Zscaler (NASDAQ:ZS) Price Target Increased to $175.00 by Analysts at Scotiabank

Zscaler (NASDAQ:ZS) had its price objective boosted by Scotiabank from $155.00 to $175.00 in a report issued on Wednesday, Marketbeat.com reports. Scotiabank currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on ZS. Piper Sandler raised their price objective on Zscaler from $130.00 to $145.00 in a report on Friday, June 9th. JPMorgan Chase & Co. lifted their price target on Zscaler from $146.00 to $155.00 and gave the stock a neutral rating in a report on Friday, August 18th. Evercore ISI lifted their price target on Zscaler from $165.00 to $170.00 in a report on Friday, June 2nd. Rosenblatt Securities restated a buy rating and set a $185.00 price objective on shares of Zscaler in a report on Friday, September 1st. Finally, Mizuho boosted their price objective on Zscaler from $168.00 to $185.00 and gave the stock a buy rating in a report on Wednesday. Fourteen investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler has a consensus rating of Moderate Buy and an average price target of $182.16.

Zscaler Stock Performance

ZS opened at $158.35 on Wednesday. The business’s 50-day moving average price is $147.82 and its two-hundred day moving average price is $129.84. Zscaler has a 1 year low of $84.93 and a 1 year high of $194.21. The company has a market capitalization of $23.10 billion, a price-to-earnings ratio of -83.78 and a beta of 0.85. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.96 and a quick ratio of 1.96.

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

Insider Buying and Selling at Zscaler

In other news, COO Dali Rajic sold 22,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $141.50, for a total transaction of $3,113,000.00. Following the completion of the transaction, the chief operating officer now directly owns 306,406 shares of the company’s stock, valued at approximately $43,356,449. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Dali Rajic sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $141.50, for a total value of $3,113,000.00. Following the completion of the transaction, the chief operating officer now directly owns 306,406 shares of the company’s stock, valued at approximately $43,356,449. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 12,500 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $144.03, for a total transaction of $1,800,375.00. Following the transaction, the chief financial officer now owns 272,565 shares of the company’s stock, valued at $39,257,536.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,115 shares of company stock worth $20,221,921. Insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in shares of Zscaler by 2.7% during the 1st quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock worth $617,000 after acquiring an additional 67 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Zscaler by 3.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,042 shares of the company’s stock worth $299,000 after acquiring an additional 69 shares during the last quarter. Malaga Cove Capital LLC lifted its holdings in shares of Zscaler by 1.0% during the 2nd quarter. Malaga Cove Capital LLC now owns 6,812 shares of the company’s stock worth $997,000 after acquiring an additional 69 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Zscaler by 2.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,149 shares of the company’s stock worth $461,000 after purchasing an additional 84 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Zscaler by 9.2% in the fourth quarter. Van ECK Associates Corp now owns 1,006 shares of the company’s stock worth $113,000 after purchasing an additional 85 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.