Scotiabank Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS - Get Free Report) had its price objective lifted by equities research analysts at Scotiabank from $205.00 to $225.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's price objective points to a potential upside of 17.30% from the stock's current price.

ZS has been the topic of several other reports. Loop Capital lowered their target price on Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a report on Tuesday, December 3rd. BTIG Research boosted their price objective on Zscaler from $205.00 to $238.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. raised their target price on Zscaler from $220.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. KeyCorp boosted their price target on shares of Zscaler from $245.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Finally, Susquehanna raised their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a "positive" rating in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $225.47.

Zscaler Trading Up 2.3 %

ZS traded up $4.23 during trading on Tuesday, hitting $191.81. The company's stock had a trading volume of 1,201,585 shares, compared to its average volume of 1,484,844. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of -767.24 and a beta of 0.87. Zscaler has a twelve month low of $153.45 and a twelve month high of $259.61. The business's fifty day simple moving average is $195.86 and its 200 day simple moving average is $187.84.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same quarter last year, the business earned ($0.18) earnings per share. The company's revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, equities research analysts forecast that Zscaler will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction that occurred on 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 approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 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 value of $573,516.16. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of large investors have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC raised its holdings in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock worth $220,401,000 after acquiring an additional 283,540 shares during the last quarter. International Assets Investment Management LLC raised its stake in Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company's stock valued at $48,769,000 after purchasing an additional 283,201 shares during the last quarter. GuoLine Advisory Pte Ltd acquired a new position in Zscaler in the 3rd quarter valued at about $32,660,000. Westfield Capital Management Co. LP lifted its holdings in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock valued at $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Zscaler by 59.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company's stock worth $34,421,000 after purchasing an additional 71,297 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

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.