Zscaler (NASDAQ:ZS) Price Target Raised to $280.00

Zscaler (NASDAQ:ZS - Free Report) had its target price hoisted by Morgan Stanley from $200.00 to $280.00 in a report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

ZS has been the topic of several other research reports. JMP Securities boosted their target price on shares of Zscaler from $240.00 to $310.00 and gave the company a "market outperform" rating in a research note on Friday. BMO Capital Markets upped their price target on Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a research report on Friday. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a research note on Wednesday. Jefferies Financial Group decreased their price objective on Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Wedbush increased their target price on Zscaler from $240.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday. Ten analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $275.12.

Zscaler Stock Performance

Shares of Zscaler stock traded up $22.92 during trading on Friday, hitting $274.03. 9,940,403 shares of the stock were exchanged, compared to its average volume of 2,045,319. The stock's fifty day moving average is $220.62 and its 200 day moving average is $206.31. The stock has a market cap of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14. Zscaler has a 12 month low of $153.45 and a 12 month high of $276.49.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm's revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. Sell-side analysts anticipate that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Syam Nair sold 28,947 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the sale, the insider now directly owns 110,566 shares of the company's stock, valued at $27,641,500. The trade was a 20.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,771 shares of company stock worth $50,165,040 in the last quarter. 18.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. LaFleur & Godfrey LLC lifted its stake in shares of Zscaler by 0.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock worth $11,183,000 after acquiring an additional 399 shares during the period. Blue Trust Inc. lifted its stake in shares of Zscaler by 31.7% in the 4th quarter. Blue Trust Inc. now owns 2,051 shares of the company's stock worth $351,000 after acquiring an additional 494 shares during the period. R Squared Ltd acquired a new stake in shares of Zscaler in the 4th quarter worth approximately $38,000. Swedbank AB lifted its stake in shares of Zscaler by 12.6% in the 4th quarter. Swedbank AB now owns 12,797 shares of the company's stock worth $2,309,000 after acquiring an additional 1,434 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Zscaler during the fourth quarter valued at approximately $36,000. Institutional investors 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.