Zscaler (NASDAQ:ZS – Get Free Report)‘s stock had its “neutral” rating restated by investment analysts at Piper Sandler in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They currently have a $260.00 price target on the stock, up from their previous price target of $235.00. Piper Sandler’s target price would indicate a potential downside of 5.12% from the company’s previous close.
A number of other analysts have also commented on the stock. Scotiabank reaffirmed a “sector outperform” rating and set a $242.00 target price (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Royal Bank of Canada boosted their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. 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. Stifel Nicolaus boosted their price target on shares of Zscaler from $235.00 to $270.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Ten research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.12.
Check Out Our Latest Analysis on ZS
Zscaler Price Performance
Zscaler (NASDAQ:ZS – Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the previous year, the business earned $0.88 EPS. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts expect that Zscaler will post -0.1 EPS for the current year.
Insider Activity
In related news, insider Robert Schlossman sold 3,590 shares of Zscaler stock in a transaction 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 transaction, the insider now owns 100,230 shares of the company’s stock, valued at $25,057,500. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This represents a 6.87% 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 valued at $50,165,040. Insiders own 18.10% of the company’s stock.
Hedge Funds Weigh In On Zscaler
A number of hedge funds have recently bought and sold shares of ZS. LaFleur & Godfrey LLC boosted its holdings in 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 purchasing an additional 399 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 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 buying an additional 494 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Zscaler during the 4th quarter valued at approximately $38,000. Swedbank AB lifted its stake in shares of Zscaler by 12.6% during the 4th quarter. Swedbank AB now owns 12,797 shares of the company’s stock valued at $2,309,000 after buying an additional 1,434 shares in the last quarter. Finally, Crews Bank & Trust bought a new stake in Zscaler during the 4th quarter worth 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.
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