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

Zscaler (NASDAQ:ZS) had its target price boosted by Wedbush from $160.00 to $185.00 in a research report report published on Wednesday morning, MarketBeat.com reports. Wedbush currently has an outperform rating on the stock.

ZS has been the topic of a number of other research reports. Morgan Stanley lifted their price target on shares of Zscaler from $120.00 to $145.00 and gave the stock an equal weight rating in a report on Wednesday. UBS Group lifted their price target on shares of Zscaler from $170.00 to $175.00 in a report on Friday, June 2nd. Bank of America lifted their price target on shares of Zscaler from $175.00 to $180.00 and gave the stock a buy rating in a report on Wednesday. Oppenheimer began coverage on shares of Zscaler in a report on Wednesday, June 7th. They issued an outperform rating and a $180.00 price target on the stock. Finally, Barclays lifted their price target on shares of Zscaler from $160.00 to $176.00 and gave the stock an equal weight 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $182.16.

Zscaler Price Performance

Zscaler stock opened at $158.35 on Wednesday. Zscaler has a 52 week low of $84.93 and a 52 week high of $194.21. The company’s 50 day moving average price is $147.82 and its two-hundred day moving average price is $129.84. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.90. The stock has a market cap of $23.10 billion, a P/E ratio of -83.78 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 5th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.49 by $0.15. Zscaler had a negative net margin of 18.20% and a negative return on equity of 39.82%. The firm had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $430.38 million. During the same quarter last year, the firm earned ($0.40) EPS. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. On average, equities analysts predict that Zscaler will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andrew William Fraser Brown sold 5,632 shares of the business’s stock in a transaction dated 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 directly owns 23,145 shares in the company, valued at approximately $3,491,423.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Andrew William Fraser Brown sold 5,632 shares of the business’s stock in a transaction dated 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 directly owns 23,145 shares in the company, valued at approximately $3,491,423.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Dali Rajic sold 22,000 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $141.50, for a total transaction of $3,113,000.00. Following the completion of the sale, the chief operating officer now owns 306,406 shares in the company, valued at $43,356,449. The disclosure for this sale can be found here. Insiders have sold a total of 134,115 shares of company stock worth $20,221,921 in the last 90 days. 19.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new stake in Zscaler during the second quarter worth about $910,000. Private Trust Co. NA purchased a new stake in shares of Zscaler in the 1st quarter worth about $29,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Zscaler in the 1st quarter valued at about $29,000. Exchange Traded Concepts LLC purchased a new position in shares of Zscaler during the 2nd quarter worth about $40,000. Finally, Coppell Advisory Solutions LLC acquired a new position in Zscaler during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors 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.