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Zscaler (NASDAQ:ZS – Free Report) had its price objective hoisted by Robert W. Baird from $295.00 to $315.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.
Several other analysts also recently issued reports on the stock. BMO Capital Markets raised their price objective 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 reduced 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 report on Wednesday, April 16th. Needham & Company LLC raised their target price on shares of Zscaler from $240.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald raised their target price on shares of Zscaler from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Jefferies Financial Group reduced their target price on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Ten research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.12.
View Our Latest Analysis on ZS
Zscaler Stock Up 9.1%
ZS opened at $274.03 on Friday. Zscaler has a 52 week low of $153.45 and a 52 week high of $276.49. The firm has a 50-day simple moving average of $220.62 and a two-hundred day simple moving average of $206.35. The company has a market capitalization of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14.
Zscaler (NASDAQ:ZS – Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating 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 the consensus estimate of $667.13 million. During the same quarter last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that Zscaler will post -0.1 earnings per share for the current year.
Insider Activity
In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction dated 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. The trade was a 0.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock valued at $50,165,040 over the last ninety days. 18.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Zscaler
A number of large investors have recently bought and sold shares of ZS. Global X Japan Co. Ltd. raised its holdings 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 valued at $25,000 after acquiring an additional 79 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Zscaler in the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $27,000. Finally, Colonial Trust Co SC acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $28,000. 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.
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