Zscaler (NASDAQ:ZS) Price Target Raised to $325.00


Zscaler (NASDAQ:ZS) had its price objective lifted by Robert W. Baird from $240.00 to $325.00 in a report issued on Friday, The Fly reports. The firm currently has an outperform rating on the stock.

ZS has been the subject of a number of other research reports. KGI Securities began coverage on shares of Zscaler in a research report on Friday, July 2nd. They issued a hold rating for the company. Barclays increased their price target on shares of Zscaler from $206.00 to $289.00 and gave the stock an equal weight rating in a research note on Thursday. Needham & Company LLC increased their price target on shares of Zscaler from $245.00 to $280.00 and gave the stock a strong-buy rating in a research note on Tuesday, July 13th. Canaccord Genuity restated a buy rating and set a $300.00 price target (up previously from $250.00) on shares of Zscaler in a research note on Thursday, July 15th. Finally, JMP Securities increased their price target on shares of Zscaler from $270.00 to $330.00 and gave the stock an outperform rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler presently has an average rating of Buy and an average price target of $288.67.


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Shares of NASDAQ:ZS opened at $270.64 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 3.02 and a current ratio of 3.02. The company has a market cap of $37.07 billion, a PE ratio of -157.35 and a beta of 0.80. Zscaler has a 52 week low of $120.34 and a 52 week high of $293.44. The firm has a 50 day simple moving average of $246.89 and a 200 day simple moving average of $209.03.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Wednesday, September 8th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The business had revenue of $197.07 million during the quarter, compared to the consensus estimate of $187.44 million. Zscaler had a negative net margin of 38.30% and a negative return on equity of 36.46%. The firm’s quarterly revenue was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.34) EPS. On average, equities analysts predict that Zscaler will post -1.36 earnings per share for the current year.


In other news, CFO Remo Canessa sold 4,678 shares of the firm’s stock in a transaction dated Wednesday, June 16th. The shares were sold at an average price of $213.46, for a total transaction of $998,565.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Amit Sinha sold 8,113 shares of the firm’s stock in a transaction dated Wednesday, June 16th. The stock was sold at an average price of $213.46, for a total transaction of $1,731,800.98. Following the transaction, the insider now directly owns 281,713 shares of the company’s stock, valued at $60,134,456.98. The disclosure for this sale can be found here. Insiders sold a total of 98,775 shares of company stock worth $22,635,330 over the last 90 days. Company insiders own 21.40% of the company’s stock.


A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Zscaler by 11.2% during the 1st quarter. BlackRock Inc. now owns 7,431,008 shares of the company’s stock valued at $1,275,682,000 after purchasing an additional 746,830 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Zscaler by 47.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 3,436,124 shares of the company’s stock valued at $742,409,000 after purchasing an additional 1,102,347 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Zscaler by 1.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,953,942 shares of the company’s stock valued at $638,230,000 after purchasing an additional 37,199 shares during the last quarter. First Trust Advisors LP lifted its holdings in Zscaler by 5.0% during the 2nd quarter. First Trust Advisors LP now owns 1,689,220 shares of the company’s stock valued at $364,973,000 after purchasing an additional 80,960 shares during the last quarter. Finally, FMR LLC lifted its holdings in Zscaler by 43.6% during the 2nd quarter. FMR LLC now owns 1,200,040 shares of the company’s stock valued at $259,281,000 after purchasing an additional 364,284 shares during the last quarter. 37.59% of the stock is owned by hedge funds and other institutional investors.


About Zscaler

Zscaler, Inc engages in the provision of cloud-based internet security platform. It provides four integrated and comprehensive solutions to customers using cloud platform, the Zscaler Zero Trust Exchange. The firm offers Zcaler internet access, private access, and platform. The company was founded by Jay Chaudhry and K.

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