Brokerages Set Zscaler, Inc. (NASDAQ:ZS) Target Price at $123.74

Shares of Zscaler, Inc. (NASDAQ:ZS) have received a consensus rating of “Buy” from the twenty-eight ratings firms that are currently covering the firm, MarketBeat reports. Thirteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $124.39.

A number of analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $115.00 price target on shares of Zscaler in a research note on Tuesday, July 28th. Royal Bank of Canada restated a “buy” rating on shares of Zscaler in a research report on Sunday, October 4th. Zacks Investment Research cut shares of Zscaler from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research note on Wednesday, September 9th. Credit Suisse Group boosted their price objective on shares of Zscaler from $90.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, September 10th. Finally, Needham & Company LLC increased their target price on shares of Zscaler from $130.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, September 10th.

In other Zscaler news, insider Robert Schlossman sold 21,000 shares of Zscaler stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $150.11, for a total value of $3,152,310.00. Following the completion of the sale, the insider now owns 165,546 shares in the company, valued at approximately $24,850,110.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Remo Canessa sold 95,835 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $128.39, for a total transaction of $12,304,255.65. Following the transaction, the chief financial officer now directly owns 494,387 shares of the company’s stock, valued at approximately $63,474,346.93. The disclosure for this sale can be found here. Insiders sold a total of 278,445 shares of company stock valued at $37,438,197 over the last ninety days. 23.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Stifel Financial Corp increased its position in Zscaler by 0.4% during the 2nd quarter. Stifel Financial Corp now owns 27,394 shares of the company’s stock worth $3,000,000 after purchasing an additional 110 shares in the last quarter. Spearhead Capital Advisors LLC increased its position in shares of Zscaler by 4.3% in the third quarter. Spearhead Capital Advisors LLC now owns 3,581 shares of the company’s stock worth $504,000 after acquiring an additional 148 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Zscaler by 2.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 9,591 shares of the company’s stock valued at $584,000 after acquiring an additional 225 shares during the period. Citizens Financial Group Inc RI acquired a new position in shares of Zscaler during the 2nd quarter valued at $25,000. Finally, Mastrapasqua Asset Management Inc. boosted its position in Zscaler by 0.5% during the 2nd quarter. Mastrapasqua Asset Management Inc. now owns 53,372 shares of the company’s stock worth $5,844,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 42.24% of the company’s stock.

Shares of Zscaler stock opened at $147.05 on Wednesday. Zscaler has a one year low of $35.00 and a one year high of $163.80. The company has a market cap of $20.36 billion, a P/E ratio of -165.22 and a beta of 0.79. The company has a debt-to-equity ratio of 1.78, a quick ratio of 3.73 and a current ratio of 3.73. The firm has a fifty day moving average of $140.84 and a two-hundred day moving average of $111.80.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Zscaler had a negative net margin of 26.69% and a negative return on equity of 24.33%. The firm had revenue of $125.89 million during the quarter, compared to analysts’ expectations of $118.67 million. During the same period in the prior year, the company posted $0.07 earnings per share. The firm’s revenue for the quarter was up 46.2% on a year-over-year basis. As a group, equities analysts predict that Zscaler will post -1.56 earnings per share for the current year.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, internet of things, and device 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 internally managed applications, either hosted internally in data centers, and private or public clouds.

Read More: What Are Treasury Bonds?

Analyst Recommendations for Zscaler (NASDAQ:ZS)

Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.