Zscaler (NASDAQ:ZS) Given New $315.00 Price Target at Rosenblatt Securities

Zscaler (NASDAQ:ZS) had its price target boosted by analysts at Rosenblatt Securities from $235.00 to $315.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 14.95% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets lifted their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Morgan Stanley lowered their target price on shares of Zscaler from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC lifted their target price on shares of Zscaler from $240.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of Zscaler from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Finally, Jefferies Financial Group lowered their target price on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Ten 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 a consensus rating of “Moderate Buy” and an average target price of $275.12.

Zscaler Stock Performance

Zscaler stock opened at $274.03 on Friday. Zscaler has a 1 year low of $153.45 and a 1 year high of $276.49. The company’s fifty day moving average price is $220.62 and its 200 day moving average price is $206.33. The stock has a market capitalization of $42.40 billion, a P/E ratio of -1,096.12 and a beta of 1.14.

Zscaler (NASDAQ:ZS) last announced its earnings results 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 net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $667.13 million. During the same quarter in the previous year, the company posted $0.88 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. Sell-side analysts predict that Zscaler will post -0.1 EPS for the current year.

Insider Activity at Zscaler

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

Institutional Trading of Zscaler

A number of institutional investors and hedge funds have recently bought and sold shares of ZS. Global X Japan Co. Ltd. increased its stake in shares of Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the period. ORG Partners LLC increased its stake in shares of Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock worth $26,000 after buying an additional 94 shares during the period. SVB Wealth LLC purchased a new stake in shares of Zscaler during the first quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in shares of Zscaler during the fourth quarter worth approximately $27,000. Finally, Colonial Trust Co SC purchased a new stake in shares of Zscaler during the fourth quarter worth approximately $28,000. 46.45% of the stock is currently owned by hedge funds and other 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.