Brokerages Set Zscaler, Inc. (NASDAQ:ZS) Target Price at $224.84

Shares of Zscaler, Inc. (NASDAQ:ZS - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirty-four ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $224.84.

A number of analysts have weighed in on the company. Piper Sandler increased their price objective on Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. BMO Capital Markets increased their price target on Zscaler from $197.00 to $222.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Loop Capital dropped their price objective on shares of Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a research note on Tuesday, December 3rd. Stifel Nicolaus raised their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, 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 report on Tuesday, December 3rd.

Zscaler Price Performance

Shares of NASDAQ ZS traded up $0.03 during midday trading on Friday, hitting $187.58. 1,303,200 shares of the company's stock were exchanged, compared to its average volume of 1,444,462. The firm's fifty day simple moving average is $196.44 and its 200-day simple moving average is $188.12. The company has a market cap of $28.78 billion, a PE ratio of -750.32 and a beta of 0.87. Zscaler has a twelve month low of $153.45 and a twelve month high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly 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 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 analysts' expectations of $605.51 million. During the same period in the previous year, the company earned ($0.18) earnings per share. Zscaler's quarterly revenue was up 26.4% compared to the same quarter last year. Equities analysts anticipate that Zscaler will post -0.16 EPS for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, insider Syam Nair sold 3,682 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the firm'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 sale, the chief financial officer now owns 220,635 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 10,248 shares of company stock worth $2,052,879. Company insiders own 18.10% of the company's stock.

Institutional Trading of Zscaler

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quest Partners LLC bought a new stake in shares of Zscaler in the second quarter worth $28,000. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler in the 3rd quarter worth about $31,000. Versant Capital Management Inc increased its position in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 104 shares during the last quarter. True Wealth Design LLC raised its stake 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 valued at $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in Zscaler in the fourth quarter worth about $36,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.