Zscaler (NASDAQ:ZS) Given New $250.00 Price Target at Oppenheimer

Zscaler (NASDAQ:ZS) had its price objective upped by Oppenheimer from $230.00 to $250.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

ZS has been the subject of a number of other research reports. Morgan Stanley dropped their price target on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday. Susquehanna upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday. Scotiabank increased their price target on shares of Zscaler from $195.00 to $205.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. BMO Capital Markets raised their price objective on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wedbush lowered their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Eleven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Price Performance

NASDAQ ZS opened at $198.64 on Tuesday. The firm has a 50-day moving average price of $190.79 and a two-hundred day moving average price of $185.01. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly 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. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the previous year, the company posted ($0.18) earnings per share. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, research analysts predict that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Remo Canessa sold 8,455 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

Large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after acquiring an additional 25,181 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Zscaler by 18.3% during the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after purchasing an additional 61,037 shares during the last quarter. 46.45% of the stock is currently owned by 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.