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

Zscaler (NASDAQ:ZS) had its target price boosted by analysts at Susquehanna from $210.00 to $225.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective points to a potential upside of 15.27% from the stock’s current price.

ZS has been the topic of several other reports. BTIG Research upped their price target on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. BNP Paribas initiated coverage on Zscaler in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 target price for the company. Loop Capital decreased their target price on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Scotiabank upped their price objective on Zscaler from $195.00 to $205.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. Finally, Stifel Nicolaus upped their price objective on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.66.

Zscaler Price Performance

Shares of NASDAQ ZS traded down $13.31 during mid-day trading on Tuesday, hitting $195.20. 344,244 shares of the company’s stock traded hands, compared to its average volume of 2,016,214. The company has a market capitalization of $29.95 billion, a P/E ratio of -487.99 and a beta of 0.82. The company’s 50-day moving average is $190.12 and its two-hundred day moving average is $184.80. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61.

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

Insider Buying and Selling

In related news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now owns 107,241 shares of the company’s stock, valued at $18,254,563.02. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’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 owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock worth $5,256,651. 18.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Zscaler

Large investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in Zscaler in the 2nd quarter valued at about $28,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler during the third quarter valued at $31,000. True Wealth Design LLC raised 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 valued at $32,000 after buying an additional 185 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Zscaler during the 3rd quarter valued at approximately $38,000. Finally, Asset Dedication LLC raised its stake in Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 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.