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

Zscaler (NASDAQ:ZS) had its price target upped by equities researchers at Wedbush from $230.00 to $240.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 22.17% from the company’s previous close.

A number of other analysts have also commented on ZS. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price objective on shares of Zscaler in a research note on Wednesday. Canaccord Genuity Group upped their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price objective (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.16.

Zscaler Trading Up 1.4 %

Shares of NASDAQ ZS opened at $196.45 on Thursday. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a market capitalization of $30.14 billion, a price-to-earnings ratio of -785.80 and a beta of 0.89. The firm has a 50-day moving average of $195.83 and a two-hundred day moving average of $191.54.

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

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were 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 directly owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently bought and sold shares of the business. Global X Japan Co. Ltd. grew its holdings in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Zscaler in the 4th quarter worth about $27,000. Colonial Trust Co SC bought a new stake in shares of Zscaler in the 4th quarter worth about $28,000. Stonebridge Financial Group LLC bought a new stake in shares of Zscaler in the 4th quarter worth about $29,000. Finally, Elequin Capital LP bought a new stake in shares of Zscaler in the 4th quarter worth about $30,000. Institutional investors own 46.45% of the company’s stock.

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.