Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Zscaler (NASDAQ:ZS - Free Report) had its price objective upped by Stifel Nicolaus from $220.00 to $235.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on ZS. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $190.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Loop Capital lowered their price objective on Zscaler from $180.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, September 4th. Citigroup reduced their price objective on shares of Zscaler from $240.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Needham & Company LLC decreased their target price on Zscaler from $290.00 to $235.00 and set a "strong-buy" rating for the company in a research note on Wednesday, September 4th. Finally, Morgan Stanley increased their target price on shares of Zscaler from $202.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and an average price target of $217.18.

Zscaler Stock Down 0.6 %

Shares of Zscaler stock traded down $1.35 during trading on Thursday, hitting $208.50. The stock had a trading volume of 1,164,879 shares, compared to its average volume of 2,035,066. The company has a market capitalization of $31.79 billion, a PE ratio of -519.36 and a beta of 0.82. The stock has a 50 day simple moving average of $180.42 and a 200 day simple moving average of $182.18. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million during the quarter, compared to analysts' expectations of $567.46 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. The firm's revenue was up 30.3% compared to the same quarter last year. As a group, equities analysts expect that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now directly owns 107,241 shares of the company's stock, valued at $18,254,563.02. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the business'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 $1,448,172.40. Following the completion of the transaction, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by company insiders.

Institutional Trading of Zscaler

A number of hedge funds have recently bought and sold shares of ZS. Quest Partners LLC purchased a new position in Zscaler in the 2nd quarter valued at $28,000. Asset Dedication LLC boosted its holdings in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company's stock valued at $39,000 after acquiring an additional 166 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of Zscaler in the second quarter valued at about $50,000. GAMMA Investing LLC grew its position in shares of Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $73,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP boosted its position in Zscaler by 613.0% during the second quarter. Quarry LP now owns 385 shares of the company's stock worth $74,000 after acquiring an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

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.