Zscaler (NASDAQ:ZS) Given New $235.00 Price Target at Stifel Nicolaus

Zscaler (NASDAQ:ZS) had its price target upped by stock analysts at Stifel Nicolaus from $220.00 to $235.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 13.63% from the company’s current price.

Several other research firms have also recently weighed in on ZS. Oppenheimer dropped their price objective on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. BNP Paribas started coverage on Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target on the stock. Raymond James initiated coverage on Zscaler in a report on Tuesday, July 23rd. They set a “market perform” rating for the company. Barclays reduced their target price on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $217.18.

Zscaler Stock Performance

Shares of ZS stock traded down $3.03 during trading hours on Thursday, hitting $206.82. The company had a trading volume of 94,012 shares, compared to its average volume of 2,030,222. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The firm’s fifty day moving average is $180.42 and its 200 day moving average is $182.18. The firm has a market capitalization of $31.54 billion, a price-to-earnings ratio of -519.36 and a beta of 0.82.

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

Insider Transactions at Zscaler

In related news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Zscaler during the 2nd quarter valued at $28,000. Asset Dedication LLC increased its holdings in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the last quarter. American Capital Advisory LLC bought a new stake in Zscaler in the second quarter worth about $50,000. GAMMA Investing LLC boosted its stake in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the last quarter. Finally, Quarry LP grew its position in shares of Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after acquiring an additional 331 shares during the period. 46.45% of the stock is owned by 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.