BMO Capital Markets Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS) had its price target boosted by stock analysts at BMO Capital Markets from $197.00 to $222.00 in a report released on Tuesday, Marketbeat.com reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 6.47% from the company’s current price.

Several other equities research analysts have also recently weighed in on ZS. Jefferies Financial Group boosted their price objective on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Citigroup cut their target price on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Piper Sandler reduced their price objective on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC reduced their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $222.81.

Zscaler Stock Performance

Shares of ZS opened at $208.51 on Tuesday. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The firm’s 50-day simple moving average is $190.12 and its 200 day simple moving average is $184.80. The firm has a market cap of $31.99 billion, a P/E ratio of -521.26 and a beta of 0.82.

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

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Remo Canessa sold 8,455 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares in the company, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Zscaler during the second quarter worth $28,000. Prestige Wealth Management Group LLC purchased a new stake in Zscaler during the 3rd quarter valued at $31,000. True Wealth Design LLC raised its position in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Zscaler during the 3rd quarter valued at about $38,000. Finally, Asset Dedication LLC raised its stake in Zscaler by 436.8% during the 2nd 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 and hedge funds.

About Zscaler

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.