Zscaler (NASDAQ:ZS) Given New $168.00 Price Target at Barclays

Zscaler (NASDAQ:ZSGet Rating) had its price objective hoisted by investment analysts at Barclays from $147.00 to $168.00 in a report issued on Friday, The Fly reports. Barclays‘s target price would indicate a potential upside of 18.20% from the company’s previous close.

Several other research analysts also recently weighed in on ZS. Robert W. Baird dropped their target price on shares of Zscaler from $415.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, March 17th. Canaccord Genuity Group cut their target price on Zscaler from $400.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday, February 22nd. Royal Bank of Canada lowered their price target on Zscaler from $330.00 to $200.00 in a report on Monday. Bank of America cut their price objective on shares of Zscaler from $390.00 to $330.00 and set a “buy” rating for the company in a report on Friday, February 25th. Finally, Wedbush lowered their target price on shares of Zscaler from $400.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Zscaler has an average rating of “Buy” and a consensus price target of $268.67.

NASDAQ ZS opened at $142.13 on Friday. The company has a 50-day moving average price of $199.67 and a 200-day moving average price of $252.52. Zscaler has a 52 week low of $125.12 and a 52 week high of $376.11. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $20.05 billion, a P/E ratio of -59.72 and a beta of 1.09.

Zscaler (NASDAQ:ZSGet Rating) last issued its quarterly earnings data on Thursday, May 26th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Zscaler had a negative net margin of 38.47% and a negative return on equity of 51.11%. The firm had revenue of $286.81 million during the quarter, compared to the consensus estimate of $271.47 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The company’s revenue for the quarter was up 62.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Zscaler will post -2.34 EPS for the current year.

In related news, insider Robert Schlossman sold 3,157 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $203.09, for a total transaction of $641,155.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Amit Sinha sold 7,358 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $203.09, for a total transaction of $1,494,336.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,779 shares of company stock worth $7,896,977. Insiders own 20.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors grew its holdings in shares of Zscaler by 40.4% during the first quarter. Capital Research Global Investors now owns 4,377,330 shares of the company’s stock valued at $1,056,162,000 after buying an additional 1,259,876 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Zscaler by 75.2% in the first quarter. First Trust Advisors LP now owns 2,265,816 shares of the company’s stock valued at $546,696,000 after purchasing an additional 972,637 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Zscaler in the first quarter worth about $168,365,000. Norges Bank acquired a new stake in shares of Zscaler during the fourth quarter worth about $202,020,000. Finally, Scge Management L.P. purchased a new stake in Zscaler in the first quarter valued at approximately $141,873,000. 43.41% of the stock is owned by institutional investors and hedge funds.

Zscaler Company Profile (Get Rating)

Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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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