Zscaler (NASDAQ:ZS) Price Target Raised to $250.00 at Oppenheimer

Zscaler (NASDAQ:ZS) had its price objective upped by stock analysts at Oppenheimer from $230.00 to $250.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 26.13% from the stock’s current price.

ZS has been the subject of a number of other research reports. Susquehanna lifted their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday. Robert W. Baird cut their price objective on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Barclays upped their price objective on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Scotiabank boosted their price target on Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Finally, BTIG Research increased their price objective on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $223.44.

Zscaler Trading Down 4.9 %

ZS stock traded down $10.30 during midday trading on Tuesday, hitting $198.21. The company’s stock had a trading volume of 2,179,472 shares, compared to its average volume of 2,023,167. The firm’s 50-day moving average is $190.12 and its 200-day moving average is $184.80. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The company has a market cap of $30.41 billion, a PE ratio of -495.51 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler’s revenue was up 26.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.18) earnings per share. Analysts expect that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the transaction, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 in the last 90 days. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC bought a new stake in shares of Zscaler in the 2nd quarter worth about $28,000. Prestige Wealth Management Group LLC purchased a new stake in Zscaler in the 3rd quarter worth about $31,000. True Wealth Design LLC lifted its stake in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Zscaler during the third quarter valued at approximately $38,000. Finally, Asset Dedication LLC grew its stake in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after buying an additional 166 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

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.