Zscaler (NASDAQ:ZS) PT Raised to $172.00

Zscaler (NASDAQ:ZS) had its price target lifted by analysts at The Goldman Sachs Group from $154.00 to $172.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 6.99% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Macquarie upped their price target on shares of Zscaler from $135.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday. Mizuho increased their price objective on shares of Zscaler from $168.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer raised their price target on shares of Zscaler from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $190.00 price target on shares of Zscaler in a research report on Wednesday. Finally, Loop Capital raised their price target on shares of Zscaler from $135.00 to $165.00 and gave the stock a “hold” rating in a research report on Wednesday. Fourteen analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.79.

Zscaler Price Performance

NASDAQ:ZS opened at $160.77 on Thursday. The firm has a market cap of $23.45 billion, a PE ratio of -114.02 and a beta of 0.85. Zscaler has a 12 month low of $84.93 and a 12 month high of $194.21. 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 company’s 50-day moving average price is $148.71 and its two-hundred day moving average price is $130.45.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.15. Zscaler had a negative net margin of 12.51% and a negative return on equity of 34.75%. The company had revenue of $455.00 million during the quarter, compared to the consensus estimate of $430.38 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. The company’s revenue was up 43.0% on a year-over-year basis. On average, equities analysts anticipate that Zscaler will post -1.01 EPS for the current fiscal year.

Insider Transactions at Zscaler

In related news, COO Dali Rajic sold 22,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.22, for a total transaction of $3,458,840.00. Following the completion of the transaction, the chief operating officer now owns 262,406 shares in the company, valued at $41,255,471.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Dali Rajic sold 22,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.22, for a total transaction of $3,458,840.00. Following the completion of the transaction, the chief operating officer now owns 262,406 shares in the company, valued at $41,255,471.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 5,440 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $156.64, for a total transaction of $852,121.60. Following the transaction, the chief executive officer now owns 374,935 shares of the company’s stock, valued at approximately $58,729,818.40. The disclosure for this sale can be found here. Insiders sold a total of 128,483 shares of company stock worth $19,372,333 in the last quarter. 19.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. bought a new position in Zscaler during the second quarter valued at about $910,000. Private Trust Co. NA purchased a new stake in Zscaler during the first quarter valued at about $29,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Zscaler during the first quarter valued at about $29,000. Exchange Traded Concepts LLC purchased a new stake in Zscaler during the second quarter valued at about $40,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Zscaler during the second quarter valued at about $45,000. 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.