Zscaler, Inc. (NASDAQ:ZS) Receives $230.55 Consensus Price Target from Brokerages

Shares of Zscaler, Inc. (NASDAQ:ZS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirty-three ratings firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, twenty-seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $230.24.

A number of research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Zscaler from $259.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, March 1st. Truist Financial reiterated a "buy" rating and set a $260.00 price objective on shares of Zscaler in a research note on Monday, April 1st. Rosenblatt Securities raised their target price on Zscaler from $285.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, March 1st. The Goldman Sachs Group upped their price target on Zscaler from $189.00 to $215.00 and gave the company a "neutral" rating in a research report on Monday, March 4th. Finally, Wedbush raised their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, March 1st.

Zscaler Stock Performance

Shares of ZS stock traded up $0.01 on Thursday, hitting $172.97. 1,659,609 shares of the stock were exchanged, compared to its average volume of 2,269,922. Zscaler has a one year low of $84.93 and a one year high of $259.61. The firm's 50 day moving average is $209.32 and its two-hundred day moving average is $202.81. The firm has a market capitalization of $25.92 billion, a PE ratio of -182.06 and a beta of 0.80. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The firm had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Sell-side analysts expect that Zscaler will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the transaction, the insider now directly owns 137,294 shares of the company's stock, valued at approximately $26,518,336.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company's stock, valued at $70,915,408.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the sale, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,715 shares of company stock worth $5,865,882. 19.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in Zscaler in the 4th quarter valued at approximately $29,000. BluePath Capital Management LLC purchased a new stake in shares of Zscaler during the third quarter valued at $32,000. Parkside Financial Bank & Trust increased its holdings in Zscaler by 582.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company's stock worth $35,000 after buying an additional 134 shares in the last quarter. GAMMA Investing LLC bought a new stake in Zscaler in the 4th quarter worth about $37,000. Finally, Quadrant Capital Group LLC raised its position in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company's stock worth $39,000 after buying an additional 70 shares during the last quarter. Institutional investors own 46.45% of the company's stock.

About Zscaler

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.