Zscaler (NASDAQ:ZS - Free Report) had its price objective boosted by Rosenblatt Securities from $235.00 to $315.00 in a research report report published on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.
Several other analysts also recently weighed in on the company. Stephens restated an "overweight" rating and issued a $255.00 price objective on shares of Zscaler in a report on Tuesday, May 27th. Cantor Fitzgerald lifted their price objective on Zscaler from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. lifted their price objective on Zscaler from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Roth Capital restated a "neutral" rating on shares of Zscaler in a report on Wednesday. Finally, Scotiabank restated a "sector outperform" rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $275.12.
View Our Latest Analysis on ZS
Zscaler Price Performance
Shares of NASDAQ:ZS traded up $22.92 on Friday, hitting $274.03. 9,940,403 shares of the company's stock were exchanged, compared to its average volume of 2,045,319. Zscaler has a 12 month low of $153.45 and a 12 month high of $276.49. The stock has a market capitalization of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14. The business's 50 day simple moving average is $220.62 and its two-hundred day simple moving average is $206.33.
Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same period last year, the company earned $0.88 earnings per share. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. Equities analysts forecast that Zscaler will post -0.1 EPS for the current fiscal year.
Insider Transactions at Zscaler
In related news, insider Syam Nair sold 28,947 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the sale, the insider now owns 110,566 shares in the company, valued at $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,771 shares of company stock worth $50,165,040. Insiders own 18.10% of the company's stock.
Institutional Investors Weigh In On Zscaler
Large investors have recently bought and sold shares of the company. Global X Japan Co. Ltd. boosted its position in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares in the last quarter. ORG Partners LLC boosted its position in Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after purchasing an additional 94 shares in the last quarter. SVB Wealth LLC purchased a new stake in Zscaler in the 1st quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in Zscaler in the 4th quarter worth approximately $27,000. Finally, Colonial Trust Co SC purchased a new stake in Zscaler in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 46.45% of the company's stock.
About Zscaler
(
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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.
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