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

Zscaler (NASDAQ:ZS) had its price target upped by research analysts at Piper Sandler from $215.00 to $235.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 12.70% from the company’s previous close.

A number of other research firms have also recently commented on ZS. Wells Fargo & Company reduced their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. BMO Capital Markets increased their price objective on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday. Barclays raised their target price on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Finally, Robert W. Baird cut their target price on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $222.81.

Zscaler Stock Up 0.9 %

Shares of ZS stock opened at $208.51 on Tuesday. The stock has a market cap of $31.99 billion, a P/E ratio of -521.26 and a beta of 0.82. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The company’s fifty day simple moving average is $190.12 and its two-hundred day simple moving average is $184.80.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.18) earnings per share. On average, analysts anticipate that Zscaler will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the transaction, the insider now owns 107,241 shares in the company, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in shares of Zscaler during the second quarter valued at about $28,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler in the 3rd quarter valued at $31,000. True Wealth Design LLC increased its holdings in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Zscaler in the third quarter valued at about $38,000. Finally, Asset Dedication LLC lifted its position in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other 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.