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

Zscaler (NASDAQ:ZS - Get Free Report) had its price objective hoisted by equities researchers at UBS Group from $315.00 to $365.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price objective suggests a potential upside of 16.20% from the stock's current price.

Several other equities analysts also recently commented on ZS. Morgan Stanley boosted their price target on shares of Zscaler from $200.00 to $280.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Royal Bank Of Canada raised their price objective on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. BTIG Research increased their target price on Zscaler from $298.00 to $329.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Barclays increased their target price on shares of Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Finally, Citigroup reiterated a "buy" rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and an average price target of $295.50.

Zscaler Trading Up 0.1%

Shares of ZS stock opened at $314.12 on Friday. Zscaler has a twelve month low of $153.45 and a twelve month high of $317.18. The stock has a 50 day moving average of $261.01 and a 200 day moving average of $219.04. The stock has a market cap of $48.91 billion, a P/E ratio of -1,206.42 and a beta of 1.09.

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, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the previous year, the business earned $0.88 EPS. Zscaler's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, research analysts predict that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,849 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $865,241.30. Following the completion of the transaction, the chief executive officer now directly owns 353,565 shares in the company, valued at approximately $107,377,690.50. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Geller sold 3,009 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $913,833.30. Following the transaction, the insider now directly owns 50,475 shares in the company, valued at approximately $15,329,257.50. The trade was a 5.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,793 shares of company stock worth $60,812,794. Insiders own 18.10% of the company's stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently made changes to their positions in ZS. T. Rowe Price Investment Management Inc. acquired a new stake in Zscaler in the 1st quarter worth about $516,622,000. Nuveen LLC acquired a new stake in Zscaler during the first quarter worth about $153,340,000. Goldman Sachs Group Inc. raised its position in shares of Zscaler by 23.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock valued at $604,831,000 after buying an additional 578,883 shares during the period. AQR Capital Management LLC raised its position in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares during the period. Finally, Natixis purchased a new stake in Zscaler in the 4th quarter valued at about $87,775,000. Institutional investors and hedge funds own 46.45% of the company's stock.

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.

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