Mizuho Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS - Get Free Report) had its price objective upped by equities research analysts at Mizuho from $275.00 to $290.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Mizuho's price objective suggests a potential downside of 3.62% from the stock's previous close.

Several other equities research analysts also recently commented on the stock. Loop Capital upped their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Oppenheimer upped their target price on shares of Zscaler from $250.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. upped their target price on shares of Zscaler from $275.00 to $292.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. KeyCorp upped their target price on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Finally, Needham & Company LLC upped their target price on shares of Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $280.76.

Zscaler Trading Up 1.4%

Shares of ZS traded up $4.03 on Wednesday, reaching $300.88. 2,503,610 shares of the company's stock were exchanged, compared to its average volume of 2,064,930. The stock has a market capitalization of $46.55 billion, a P/E ratio of -1,203.52 and a beta of 1.14. The business has a 50 day moving average price of $225.76 and a two-hundred day moving average price of $208.18. Zscaler has a 12 month low of $153.45 and a 12 month high of $303.67.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. Equities research analysts predict that Zscaler will post -0.1 EPS for the current year.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 3,590 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $897,500.00. Following the transaction, the insider now directly owns 100,230 shares of the company's stock, valued at $25,057,500. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,771 shares of company stock worth $50,165,040 over the last quarter. 18.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

Several large investors have recently modified their holdings of the stock. Anderson Financial Strategies LLC bought a new position in Zscaler during the first quarter worth about $238,000. Geneos Wealth Management Inc. increased its position in Zscaler by 26.7% during the first quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company's stock worth $1,224,000 after acquiring an additional 1,299 shares during the period. Belpointe Asset Management LLC increased its position in Zscaler by 10.8% during the first quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company's stock worth $231,000 after acquiring an additional 114 shares during the period. Jupiter Wealth Management LLC bought a new position in Zscaler during the first quarter worth about $298,000. Finally, Focus Partners Wealth increased its position in Zscaler by 2.5% during the first quarter. Focus Partners Wealth now owns 62,083 shares of the company's stock worth $12,319,000 after acquiring an additional 1,517 shares during the period. 46.45% of the stock is owned by institutional investors.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.