Zscaler (NASDAQ:ZS) PT Raised to $190.00

Zscaler (NASDAQ:ZS) had its target price upped by analysts at Citigroup from $175.00 to $190.00 in a research note issued to investors on Tuesday, FlyOnTheWall reports. Citigroup’s price target suggests a potential upside of 22.80% from the company’s previous close.

Several other research firms also recently weighed in on ZS. Wells Fargo & Company raised their target price on Zscaler from $175.00 to $200.00 in a research report on Friday, June 16th. Mizuho lifted their price objective on Zscaler from $168.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. Bank of America lifted their price objective on Zscaler from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. Wedbush lifted their price objective on Zscaler from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Finally, Oppenheimer lifted their price objective on Zscaler from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $182.69.

Zscaler Stock Performance

NASDAQ ZS opened at $154.72 on Tuesday. The company has a market cap of $22.77 billion, a PE ratio of -109.73 and a beta of 0.85. The stock’s 50 day simple moving average is $150.20 and its 200-day simple moving average is $131.61. Zscaler has a 1-year low of $84.93 and a 1-year high of $185.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.88 and a quick ratio of 1.88.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.15. The business had revenue of $455.00 million for the quarter, compared to the consensus estimate of $430.38 million. Zscaler had a negative return on equity of 34.75% and a negative net margin of 12.51%. The business’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) earnings per share. As a group, equities research analysts anticipate that Zscaler will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Dali Rajic sold 22,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $157.41, for a total transaction of $3,463,020.00. Following the completion of the transaction, the chief operating officer now directly owns 284,406 shares of the company’s stock, valued at approximately $44,768,348.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zscaler news, COO Dali Rajic sold 22,000 shares of Zscaler stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $157.41, for a total transaction of $3,463,020.00. Following the completion of the sale, the chief operating officer now directly owns 284,406 shares of the company’s stock, valued at approximately $44,768,348.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Remo Canessa sold 12,500 shares of Zscaler stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $144.03, for a total value of $1,800,375.00. Following the sale, the chief financial officer now directly owns 272,565 shares of the company’s stock, valued at $39,257,536.95. The disclosure for this sale can be found here. Insiders sold 103,500 shares of company stock valued at $15,464,985 in the last three months. 19.80% of the stock is owned by corporate insiders.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Trust Co. NA purchased a new stake in Zscaler during the 1st quarter valued at approximately $29,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Zscaler during the 1st quarter valued at approximately $29,000. IFP Advisors Inc raised its stake in Zscaler by 60.5% during the 2nd quarter. IFP Advisors Inc now owns 1,037 shares of the company’s stock valued at $29,000 after acquiring an additional 391 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in Zscaler during the 4th quarter valued at approximately $38,000. Finally, KB Financial Partners LLC purchased a new stake in Zscaler during the 1st quarter valued at approximately $39,000. 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.