Zscaler (NASDAQ:ZS) Price Target Raised to $340.00 at Bank of America

Zscaler (NASDAQ:ZS - Get Free Report) had its price objective raised by equities researchers at Bank of America from $285.00 to $340.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price target would indicate a potential upside of 11.73% from the company's current price.

ZS has been the subject of a number of other research reports. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Barclays upped their price target on shares of Zscaler from $275.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Stifel Nicolaus upped their target price on shares of Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Loop Capital increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Finally, JMP Securities boosted their price objective on Zscaler from $240.00 to $310.00 and gave the company a "market outperform" rating in a report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Zscaler has an average rating of "Moderate Buy" and an average target price of $286.79.

Zscaler Stock Up 0.4%

Shares of ZS stock traded up $1.28 on Monday, reaching $304.31. 826,774 shares of the stock were exchanged, compared to its average volume of 2,061,013. Zscaler has a 1-year low of $153.45 and a 1-year high of $306.78. The stock has a market cap of $47.38 billion, a P/E ratio of -1,219.29 and a beta of 1.09. The firm has a 50 day moving average of $229.85 and a two-hundred day moving average of $209.61.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data 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. The company 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 business's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, equities research analysts predict that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Activity

In related news, Director Andrew William Fraser Brown sold 20,333 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the completion of the transaction, the director now directly owns 27,216 shares in the company, valued at $8,075,531.52. This represents a 42.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schlossman sold 4,618 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the transaction, the insider now owns 95,612 shares in the company, valued at approximately $28,683,600. The trade was a 4.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,722 shares of company stock valued at $57,583,648 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Partners LLC raised its stake in shares of Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after buying an additional 94 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Zscaler in the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new stake in Zscaler in the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new stake in Zscaler in the first quarter valued at $29,000. Finally, Summit Securities Group LLC acquired a new position in Zscaler during the fourth quarter worth $27,000. 46.45% of the stock is owned by institutional investors.

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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