Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Zscaler (NASDAQ:ZS) had its price objective lifted by investment analysts at BMO Capital Markets from $233.00 to $295.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 7.65% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Zscaler from $275.00 to $292.00 and gave the company an “overweight” rating in a research note on Friday. BNP Paribas upgraded Zscaler from a “neutral” rating to an “outperform” rating and set a $260.00 price target for the company in a research note on Monday, April 28th. Truist Financial reiterated a “buy” rating and issued a $300.00 price target (up from $260.00) on shares of Zscaler in a research note on Friday. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a research note on Friday. Finally, Stephens reiterated an “overweight” rating and issued a $255.00 price target on shares of Zscaler in a research note on Tuesday, May 27th. Ten investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $275.12.

Zscaler Stock Up 9.1%

Shares of NASDAQ:ZS opened at $274.03 on Friday. Zscaler has a 12-month low of $153.45 and a 12-month high of $276.49. The stock has a market cap of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14. The business has a 50 day moving average of $220.62 and a 200-day moving average of $206.33.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $667.13 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business’s revenue was up 22.6% on a year-over-year basis. Equities research analysts expect that Zscaler will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now directly owns 107,587 shares of the company’s stock, valued at $21,425,951.05. This represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,771 shares of company stock valued at $50,165,040 in the last three months. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Zscaler by 3.1% in the first quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company’s stock valued at $1,962,474,000 after buying an additional 294,034 shares during the period. Goldman Sachs Group Inc. lifted its stake in Zscaler by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock valued at $604,831,000 after buying an additional 578,883 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Zscaler in the first quarter valued at approximately $516,622,000. Geode Capital Management LLC increased its holdings in shares of Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock valued at $298,710,000 after acquiring an additional 32,545 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after acquiring an additional 332,307 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Company Profile

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