Zscaler (NASDAQ:ZS) Price Target Raised to $215.00

Zscaler (NASDAQ:ZS) had its target price hoisted by Morgan Stanley from $202.00 to $215.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also weighed in on ZS. JPMorgan Chase & Co. upgraded shares of Zscaler from a neutral rating to an overweight rating and boosted their price objective for the stock from $205.00 to $230.00 in a research note on Friday, June 14th. Wells Fargo & Company reissued an equal weight rating and set a $182.00 price target (down previously from $275.00) on shares of Zscaler in a research report on Tuesday, May 28th. Scotiabank cut their price objective on Zscaler from $250.00 to $210.00 and set a sector outperform rating for the company in a research report on Friday, May 31st. UBS Group reduced their target price on Zscaler from $300.00 to $270.00 and set a buy rating for the company in a research note on Wednesday, May 29th. Finally, Susquehanna dropped their price target on Zscaler from $275.00 to $210.00 and set a positive rating on the stock in a research note on Friday, May 31st. Eight research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $226.18.

Zscaler Trading Up 1.7 %

Shares of NASDAQ:ZS opened at $197.25 on Monday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The firm has a market cap of $29.81 billion, a price-to-earnings ratio of -386.76 and a beta of 0.85. The company’s fifty day simple moving average is $188.33 and its 200 day simple moving average is $190.71. Zscaler has a 12 month low of $143.36 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million during the quarter, compared to the consensus estimate of $535.55 million. As a group, research analysts forecast that Zscaler will post -0.32 EPS for the current fiscal year.

Insider Activity

In other news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of large investors have recently bought and sold shares of ZS. Truist Financial Corp increased its position in shares of Zscaler by 137.3% during the second quarter. Truist Financial Corp now owns 2,572 shares of the company’s stock worth $494,000 after purchasing an additional 1,488 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Zscaler by 166.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 10,012 shares of the company’s stock worth $1,924,000 after buying an additional 6,251 shares during the last quarter. Quarry LP increased its position in Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after buying an additional 331 shares in the last quarter. Capital Impact Advisors LLC purchased a new stake in Zscaler in the second quarter valued at about $866,000. Finally, Creative Planning boosted its holdings in Zscaler by 11.3% in the second quarter. Creative Planning now owns 137,983 shares of the company’s stock worth $26,519,000 after acquiring an additional 13,978 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

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.