BMO Capital Markets Increases Zscaler (NASDAQ:ZS) Price Target to $233.00

Zscaler (NASDAQ:ZS) had its target price raised by equities researchers at BMO Capital Markets from $222.00 to $233.00 in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 18.61% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Citigroup reiterated a “buy” rating on shares of Zscaler in a research note on Wednesday. Wells Fargo & Company upped their price objective on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upped their price target on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.87.

Zscaler Trading Up 1.4 %

Shares of ZS stock opened at $196.45 on Thursday. The stock has a market cap of $30.14 billion, a P/E ratio of -785.80 and a beta of 0.89. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The stock has a 50 day simple moving average of $195.83 and a 200 day simple moving average of $191.54.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same period in the prior year, the company posted ($0.18) EPS. The company’s revenue was up 26.4% compared to the same quarter last year. Analysts forecast that Zscaler will post -0.1 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,248 shares of company stock valued at $2,052,879. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Corebridge Financial Inc. raised its stake in shares of Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after purchasing an additional 54 shares during the period. Erste Asset Management GmbH increased its holdings in Zscaler by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after buying an additional 56 shares during the last quarter. KRS Capital Management LLC raised its position in Zscaler by 1.9% in the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after acquiring an additional 60 shares during the period. Ironwood Investment Management LLC lifted its stake in Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock valued at $1,127,000 after purchasing an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.