Oppenheimer Boosts Zscaler (NASDAQ:ZS) Price Target to $345.00

Zscaler (NASDAQ:ZS - Get Free Report) had its target price boosted by equities research analysts at Oppenheimer from $290.00 to $345.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price target points to a potential upside of 15.04% from the company's previous close.

A number of other analysts have also recently weighed in on ZS. Scotiabank increased their price target on Zscaler from $242.00 to $310.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their target price on Zscaler from $275.00 to $292.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Mizuho raised their target price on Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. BMO Capital Markets raised their target price on Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus raised their target price on Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and an average target price of $286.79.

Zscaler Stock Performance

Shares of Zscaler stock traded down $3.13 on Friday, reaching $299.90. 2,293,326 shares of the company were exchanged, compared to its average volume of 2,066,710. The company's 50-day moving average is $231.71 and its two-hundred day moving average is $210.23. The firm has a market cap of $46.69 billion, a price-to-earnings ratio of -1,199.60 and a beta of 1.09. Zscaler has a 1-year low of $153.45 and a 1-year high of $306.78.

Zscaler (NASDAQ:ZS - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business's quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. As a group, sell-side analysts forecast that Zscaler will post -0.1 earnings per share for the current year.

Insider Activity at Zscaler

In related news, Director Andrew William Fraser Brown sold 20,333 shares of Zscaler stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the completion of the sale, the director now owns 27,216 shares of the company's stock, valued at approximately $8,075,531.52. This trade represents a 42.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 266,722 shares of company stock valued at $57,583,648. Company insiders own 18.10% of the company's stock.

Institutional Trading of Zscaler

A number of institutional investors have recently bought and sold shares of ZS. Global X Japan Co. Ltd. lifted its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after buying an additional 79 shares during the last quarter. ORG Partners LLC lifted its position in shares of Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after buying an additional 94 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Zscaler in the first quarter worth about $26,000. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the fourth quarter worth about $27,000. Finally, Colonial Trust Co SC acquired a new stake in shares of Zscaler in the fourth quarter worth about $28,000. Institutional investors and hedge funds 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.