Zscaler (NASDAQ:ZS) Given New $245.00 Price Target at KeyCorp

Zscaler (NASDAQ:ZS) had its target price raised by equities researchers at KeyCorp from $220.00 to $245.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 18.19% from the company’s current price.

ZS has been the subject of a number of other research reports. Susquehanna restated a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research note on Thursday, September 5th. JMP Securities restated a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a research note on Monday, November 4th. BTIG Research decreased their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday. Finally, Piper Sandler lowered their price objective on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.55.

Zscaler Trading Up 3.2 %

Zscaler stock opened at $207.30 on Friday. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The stock has a market cap of $31.61 billion, a PE ratio of -518.25 and a beta of 0.82. The stock has a 50-day moving average price of $185.67 and a 200 day moving average price of $183.33.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. On average, equities analysts predict that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’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 $488,490.56. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in shares of Zscaler during the second quarter worth $28,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler in the 3rd quarter worth about $31,000. True Wealth Design LLC raised its holdings in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the period. Asset Dedication LLC lifted its stake in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after buying an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new position in shares of Zscaler in the second quarter worth about $50,000. 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.