Brokerages Set Zscaler, Inc. (NASDAQ:ZS) Target Price at $225.47

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirty-four brokerages that are currently covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $225.63.

ZS has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Zscaler from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Morgan Stanley lowered their target price on shares of Zscaler from $215.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Tuesday, December 3rd. Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a research note on Tuesday, December 3rd. Mizuho raised their price objective on shares of Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Susquehanna boosted their target price on Zscaler from $210.00 to $225.00 and gave the stock a "positive" rating in a report on Tuesday, December 3rd.

Zscaler Stock Down 1.0 %

ZS stock traded down $2.14 during mid-day trading on Wednesday, reaching $212.70. The company had a trading volume of 1,761,432 shares, compared to its average volume of 1,363,051. The stock's 50-day simple moving average is $194.79 and its two-hundred day simple moving average is $189.35. The stock has a market capitalization of $32.64 billion, a P/E ratio of -850.80 and a beta of 0.89. Zscaler has a one year low of $153.45 and a one year high of $255.00.

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Zscaler (NASDAQ:ZS - Get Free Report) last posted 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. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same period in the previous year, the business posted ($0.18) EPS. Zscaler's revenue was up 26.4% on a year-over-year basis. On average, research analysts forecast that Zscaler will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 3,682 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 transaction of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 over the last three months. 18.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Global X Japan Co. Ltd. lifted its position in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares during the period. Summit Securities Group LLC bought a new position in shares of Zscaler during the 4th quarter worth about $27,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler during the 4th quarter valued at about $29,000. Prestige Wealth Management Group LLC bought a new stake in Zscaler in the third quarter valued at about $31,000. Finally, True Wealth Design LLC raised its position 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 in the last quarter. 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.