Robert W. Baird Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its price target lifted by Robert W. Baird from $240.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently commented on ZS. KeyCorp boosted their price target on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. BTIG Research boosted their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.84.

Zscaler Stock Up 2.9 %

Shares of NASDAQ ZS opened at $202.16 on Thursday. The firm has a market cap of $31.02 billion, a price-to-earnings ratio of -808.64 and a beta of 0.89. Zscaler has a 52-week low of $153.45 and a 52-week high of $217.84. The business’s 50 day moving average is $196.01 and its two-hundred day moving average is $191.57.

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

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 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 $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock valued at $2,052,879 in the last ninety days. Company insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

A number of institutional investors have recently made changes to their positions in the stock. Global X Japan Co. Ltd. lifted its stake in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Zscaler during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC acquired a new stake in Zscaler during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC acquired a new stake in Zscaler during the fourth quarter valued at approximately $29,000. Finally, Elequin Capital LP acquired a new stake in Zscaler during the fourth quarter valued at approximately $30,000. 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.