Zscaler (NASDAQ:ZS) had its price target raised by analysts at Bank of America from $68.00 to $70.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 45.50% from the company’s current price.
A number of other research firms have also issued reports on ZS. Needham & Company LLC reiterated a “buy” rating and set a $89.00 price objective on shares of Zscaler in a research note on Sunday, October 20th. Barclays cut their target price on Zscaler from $80.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. Rosenblatt Securities reaffirmed a “hold” rating and set a $50.00 target price on shares of Zscaler in a report on Wednesday. Credit Suisse Group reaffirmed an “outperform” rating and set a $70.00 target price (down previously from $78.00) on shares of Zscaler in a report on Wednesday, September 11th. Finally, DA Davidson began coverage on Zscaler in a research report on Wednesday, November 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $62.70.
Zscaler stock opened at $48.11 on Wednesday. Zscaler has a 1-year low of $34.21 and a 1-year high of $89.54. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of -400.92 and a beta of 1.22. The firm has a 50 day simple moving average of $45.74 and a 200 day simple moving average of $64.47.
Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, December 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.11. Zscaler had a negative return on equity of 9.46% and a negative net margin of 9.46%. The firm had revenue of $93.59 million for the quarter, compared to the consensus estimate of $89.81 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. The business’s quarterly revenue was up 47.9% on a year-over-year basis. Equities research analysts anticipate that Zscaler will post -0.24 earnings per share for the current fiscal year.
In other news, Director Karen Blasing sold 1,000 shares of Zscaler stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.80, for a total transaction of $46,800.00. Also, insider Robert Schlossman sold 2,000 shares of Zscaler stock in a transaction on Monday, November 25th. The stock was sold at an average price of $50.00, for a total transaction of $100,000.00. Following the sale, the insider now directly owns 94,966 shares of the company’s stock, valued at $4,748,300. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock worth $345,300. Insiders own 23.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. purchased a new stake in Zscaler during the second quarter valued at about $25,000. Meadow Creek Investment Management LLC purchased a new position in shares of Zscaler in the 2nd quarter worth about $32,000. Neuburgh Advisers LLC purchased a new position in shares of Zscaler in the 2nd quarter worth about $44,000. Tyers Asset Management LLC purchased a new position in shares of Zscaler in the 2nd quarter worth about $56,000. Finally, Advisory Services Network LLC bought a new position in shares of Zscaler during the 2nd quarter valued at about $63,000. 36.46% of the stock is currently owned by institutional investors and hedge funds.
Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
Featured Story: What is the CAC 40 Index
Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.