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

Zscaler (NASDAQ:ZS) had its target price increased by Barclays from $200.00 to $220.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

ZS has been the topic of several other research reports. JMP Securities restated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research note on Monday, November 4th. Scotiabank lowered their price objective on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 4th. Piper Sandler dropped their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday. Finally, Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.55.

Zscaler Stock Up 3.2 %

Shares of ZS opened at $207.30 on Thursday. The company has a market capitalization of $31.61 billion, a P/E ratio of -518.25 and a beta of 0.82. Zscaler has a twelve month low of $153.45 and a twelve month high of $259.61. The firm has a 50 day moving average of $185.67 and a 200 day moving average of $183.33.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. On average, sell-side analysts expect that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 over the last three months. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of hedge funds have recently added to or reduced their stakes in ZS. O Shaughnessy Asset Management LLC raised its holdings in shares of Zscaler by 3.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,104 shares of the company’s stock valued at $790,000 after acquiring an additional 149 shares during the last quarter. UniSuper Management Pty Ltd lifted its holdings in Zscaler by 116.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,300 shares of the company’s stock valued at $250,000 after purchasing an additional 700 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Zscaler by 59.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock worth $429,000 after purchasing an additional 834 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Zscaler during the first quarter worth $2,697,000. Finally, Janus Henderson Group PLC raised its position in shares of Zscaler by 11.8% in the first quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock valued at $1,757,000 after buying an additional 963 shares during the last quarter. 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.