Loop Capital Boosts Zscaler (NASDAQ:ZS) Price Target to $260.00

Zscaler (NASDAQ:ZS - Get Free Report) had its price target boosted by Loop Capital from $250.00 to $260.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the stock. Loop Capital's target price indicates a potential downside of 5.12% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. Oppenheimer upped their price target on Zscaler from $250.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday. BMO Capital Markets upped their target price on Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a research note on Friday. Bank of America raised Zscaler from a "neutral" rating to a "buy" rating and upped their target price for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Robert W. Baird raised their price objective on Zscaler from $295.00 to $315.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Scotiabank raised their price objective on Zscaler from $242.00 to $310.00 and gave the stock a "sector outperform" rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and an average target price of $275.12.

Zscaler Stock Up 9.1%

ZS stock traded up $22.92 during trading on Friday, hitting $274.03. The company had a trading volume of 9,940,403 shares, compared to its average volume of 2,045,319. The firm has a 50-day moving average price of $220.62 and a 200-day moving average price of $206.31. Zscaler has a 1-year low of $153.45 and a 1-year high of $276.49. The firm has a market cap of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) 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 company had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. During the same quarter in the previous year, the firm posted $0.88 EPS. The firm's quarterly revenue was up 22.6% on a year-over-year basis. Sell-side analysts anticipate that Zscaler will post -0.1 earnings per share for the current year.

Insider Activity

In other news, insider Syam Nair sold 28,947 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the transaction, the insider now directly owns 110,566 shares in the company, valued at $27,641,500. The trade was a 20.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares of the company's stock, 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 valued at $50,165,040. Insiders own 18.10% of the company's stock.

Institutional Trading of Zscaler

Hedge funds have recently modified their holdings of the company. Anderson Financial Strategies LLC bought a new stake in shares of Zscaler during the first quarter valued at approximately $238,000. Geneos Wealth Management Inc. raised its holdings in shares of 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 lifted its position in Zscaler by 10.8% during the 1st quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company's stock worth $231,000 after buying an additional 114 shares in the last quarter. Jupiter Wealth Management LLC bought a new stake in Zscaler during the 1st quarter worth about $298,000. Finally, Focus Partners Wealth raised its holdings in shares of Zscaler by 2.5% in the 1st quarter. Focus Partners Wealth now owns 62,083 shares of the company's stock valued at $12,319,000 after purchasing an additional 1,517 shares during the period. 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.