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

Zscaler (NASDAQ:ZS) had its price objective hoisted by Barclays from $220.00 to $250.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on ZS. Deutsche Bank Aktiengesellschaft upped their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. JMP Securities reissued a “market outperform” rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. BMO Capital Markets upped their price objective on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research report on Monday, November 18th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $226.56.

Zscaler Stock Down 4.1 %

Shares of Zscaler stock opened at $198.56 on Friday. The business has a 50-day simple moving average of $195.38 and a 200 day simple moving average of $190.54. Zscaler has a one year low of $153.45 and a one year high of $251.55.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. Research analysts anticipate that Zscaler will post -0.1 EPS for the current year.

Insider Activity

In other news, insider Syam Nair sold 3,682 shares of Zscaler 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 completion of the sale, the insider now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 3,703 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 transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by company insiders.

Institutional Trading of Zscaler

A number of hedge funds have recently made changes to their positions in ZS. Global X Japan Co. Ltd. grew its position in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Zscaler in the 4th quarter valued at $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler during the 4th quarter valued at $28,000. Stonebridge Financial Group LLC purchased a new position in Zscaler in the 4th quarter worth $29,000. Finally, Elequin Capital LP bought a new stake in Zscaler in the fourth quarter worth $30,000. 46.45% of the stock is owned by institutional investors.

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.