Zscaler (NASDAQ:ZS) Price Target Raised to $235.00 at Piper Sandler

Zscaler (NASDAQ:ZS) had its price target raised by Piper Sandler from $215.00 to $235.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Susquehanna reaffirmed a “positive” rating and set a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th. Citigroup dropped their price objective on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Jefferies Financial Group raised their price objective on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $198.64 on Tuesday. The business’s 50 day simple moving average is $190.79 and its 200 day simple moving average is $185.01. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) EPS. On average, equities analysts predict that Zscaler will post -0.95 EPS for the current year.

Insider Activity at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the transaction, the director now owns 25,907 shares in the company, valued at $4,510,408.70. The trade was a 23.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the sale, the insider now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ZS. Quest Partners LLC purchased a new stake in shares of Zscaler during the 2nd quarter worth approximately $28,000. Prestige Wealth Management Group LLC purchased a new stake in Zscaler in the third quarter worth $31,000. True Wealth Design LLC raised its stake in shares of Zscaler by 18,500.0% in the third 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 purchased a new position in shares of Zscaler during the 3rd quarter valued at $38,000. Finally, Asset Dedication LLC grew its stake in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares during the period. 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.