Zscaler (NASDAQ:ZS) Price Target Raised to $260.00

Zscaler (NASDAQ:ZS) had its target price hoisted by Wells Fargo & Company from $210.00 to $260.00 in a research note issued to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other brokerages also recently issued reports on ZS. Stephens restated an “overweight” rating and issued a $255.00 price objective on shares of Zscaler in a research report on Tuesday, May 27th. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their target price for the company from $215.00 to $240.00 in a report on Friday, March 7th. Jefferies Financial Group lowered their price target on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 31st. Robert W. Baird boosted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, Roth Capital restated a “neutral” rating on shares of Zscaler in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $275.12.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $274.03 on Friday. The firm’s 50-day moving average is $220.62 and its two-hundred day moving average is $206.31. The company has a market capitalization 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) last issued 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. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same period in the previous year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, analysts forecast that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 241,771 shares of company stock worth $50,165,040. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZS. LaFleur & Godfrey LLC increased its position in shares of Zscaler by 0.6% during the fourth 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 last quarter. Blue Trust Inc. grew its stake in Zscaler by 31.7% during the 4th quarter. Blue Trust Inc. now owns 2,051 shares of the company’s stock valued at $351,000 after purchasing an additional 494 shares in the last quarter. R Squared Ltd acquired a new stake in Zscaler during the 4th quarter valued at approximately $38,000. Swedbank AB increased its holdings in Zscaler by 12.6% during the 4th quarter. Swedbank AB now owns 12,797 shares of the company’s stock worth $2,309,000 after purchasing an additional 1,434 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Zscaler in the 4th quarter valued at approximately $36,000. 46.45% of the stock is owned by institutional investors and hedge funds.

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.