Zscaler (NASDAQ:ZS) Given New $185.00 Price Target at Mizuho

Zscaler (NASDAQ:ZS) had its price objective hoisted by Mizuho from $168.00 to $185.00 in a research note released on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Barclays lifted their price objective on shares of Zscaler from $160.00 to $176.00 and gave the stock an equal weight rating in a research note on Wednesday. Oppenheimer began coverage on Zscaler in a report on Wednesday, June 7th. They set an outperform rating and a $180.00 price objective for the company. Truist Financial increased their price objective on Zscaler from $153.00 to $175.00 in a report on Friday, June 16th. Royal Bank of Canada boosted their target price on shares of Zscaler from $155.00 to $162.00 in a research report on Friday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zscaler from $155.00 to $185.00 and gave the stock a buy rating in a report on Wednesday. Fourteen research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zscaler has an average rating of Moderate Buy and a consensus price target of $182.16.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $158.35 on Wednesday. The stock’s 50-day simple moving average is $147.82 and its 200-day simple moving average is $129.84. The firm has a market capitalization of $23.10 billion, a PE ratio of -83.78 and a beta of 0.85. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.96 and a current ratio of 1.96. Zscaler has a fifty-two week low of $84.93 and a fifty-two week high of $194.21.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 5th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.15. Zscaler had a negative return on equity of 39.82% and a negative net margin of 18.20%. The business had revenue of $455.00 million during the quarter, compared to the consensus estimate of $430.38 million. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The business’s revenue for the quarter was up 43.0% on a year-over-year basis. As a group, equities research analysts forecast that Zscaler will post -1.14 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other news, Director Andrew William Fraser Brown sold 5,632 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $150.85, for a total value of $849,587.20. Following the sale, the director now owns 23,145 shares of the company’s stock, valued at $3,491,423.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Dali Rajic sold 22,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $157.22, for a total value of $3,458,840.00. Following the transaction, the chief operating officer now owns 262,406 shares of the company’s stock, valued at $41,255,471.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew William Fraser Brown sold 5,632 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $150.85, for a total transaction of $849,587.20. Following the completion of the transaction, the director now owns 23,145 shares in the company, valued at $3,491,423.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,115 shares of company stock worth $20,221,921. Company insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Zscaler by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock worth $134,476,000 after buying an additional 68,982 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in Zscaler during the first quarter worth approximately $244,000. D.A. Davidson & CO. raised its holdings in Zscaler by 41.6% in the first quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock valued at $273,000 after acquiring an additional 332 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Zscaler during the first quarter worth $1,232,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Zscaler by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company’s stock worth $29,338,000 after acquiring an additional 2,153 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. It 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.