Barclays Raises Zscaler (NASDAQ:ZS) Price Target to $290.00

Zscaler (NASDAQ:ZS - Free Report) had its target price boosted by Barclays from $275.00 to $290.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently commented on the stock. Scotiabank boosted their price target on shares of Zscaler from $242.00 to $310.00 and gave the company a "sector outperform" rating in a report on Friday. Piper Sandler restated a "neutral" rating and set a $260.00 price target (up from $235.00) on shares of Zscaler in a report on Friday. UBS Group boosted their price target on shares of Zscaler from $260.00 to $315.00 and gave the company a "buy" rating in a report on Friday. Robert W. Baird boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Finally, Mizuho boosted their price target on shares of Zscaler from $220.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.12.

Zscaler Price Performance

NASDAQ ZS traded up $22.92 on Friday, hitting $274.03. 9,940,403 shares of the stock were exchanged, compared to its average volume of 2,045,319. Zscaler has a 52-week low of $153.45 and a 52-week high of $276.49. The company has a market capitalization of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14. The company's 50-day moving average price is $220.62 and its two-hundred day moving average price is $206.31.

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

Insider Activity

In related news, insider Syam Nair sold 28,947 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $7,236,750.00. Following the completion of the sale, the insider now owns 110,566 shares of the company's stock, valued at $27,641,500. This trade represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Schlossman sold 3,590 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $897,500.00. Following the completion of the sale, the insider now directly owns 100,230 shares of the company's stock, valued at approximately $25,057,500. This represents a 3.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,771 shares of company stock worth $50,165,040. Insiders own 18.10% of the company's stock.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently modified their holdings of the stock. SYM FINANCIAL Corp acquired a new stake in Zscaler during the 4th quarter worth $303,000. Mediolanum International Funds Ltd grew its holdings in Zscaler by 17.2% during the 4th quarter. Mediolanum International Funds Ltd now owns 53,646 shares of the company's stock worth $9,800,000 after acquiring an additional 7,892 shares during the period. Choreo LLC grew its holdings in Zscaler by 2.6% during the 4th quarter. Choreo LLC now owns 2,833 shares of the company's stock worth $517,000 after acquiring an additional 73 shares during the period. Arlington Capital Management Inc. acquired a new stake in Zscaler during the 4th quarter worth $2,107,000. Finally, DnB Asset Management AS grew its holdings in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after acquiring an additional 267,162 shares during the period. 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.