Zscaler (NASDAQ:ZS - Free Report) had its target price hoisted by Cantor Fitzgerald from $250.00 to $275.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.
A number of other equities research analysts have also commented on ZS. Wells Fargo & Company increased their price target on Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Roth Capital initiated coverage on Zscaler in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $240.00 price target on shares of Zscaler in a research report on Wednesday, March 5th. Finally, UBS Group increased their price objective on Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Ten investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $275.12.
Read Our Latest Stock Analysis on Zscaler
Zscaler Stock Performance
Shares of ZS stock traded up $22.92 during trading hours on Tuesday, hitting $274.03. The company had a trading volume of 9,940,403 shares, compared to its average volume of 2,077,576. Zscaler has a 12 month low of $153.45 and a 12 month high of $276.49. The firm has a market capitalization of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14. The firm's fifty day moving average is $220.62 and its 200 day moving average is $206.35.
Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS 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 analyst estimates of $667.13 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. On average, sell-side analysts expect that Zscaler will post -0.1 EPS for the current fiscal year.
Insider Buying and Selling
In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares of the company's stock, valued at $21,425,951.05. The trade was a 2.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 241,771 shares of company stock valued at $50,165,040. 18.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Zscaler
Several hedge funds have recently modified their holdings of the stock. Anderson Financial Strategies LLC bought a new position in shares of Zscaler in the 1st quarter valued at about $238,000. Geneos Wealth Management Inc. grew its holdings in shares of Zscaler by 26.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company's stock valued at $1,224,000 after acquiring an additional 1,299 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Zscaler by 10.8% in the 1st quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company's stock valued at $231,000 after acquiring an additional 114 shares in the last quarter. Jupiter Wealth Management LLC bought a new position in shares of Zscaler in the 1st quarter valued at about $298,000. Finally, Focus Partners Wealth grew its holdings in Zscaler by 2.5% during the first quarter. Focus Partners Wealth now owns 62,083 shares of the company's stock worth $12,319,000 after purchasing an additional 1,517 shares during the period. 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.
Further Reading

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