Wells Fargo & Company Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS) had its price target hoisted by equities research analysts at Wells Fargo & Company from $190.00 to $210.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.90% from the stock’s current price.

Several other research firms have also commented on ZS. Stifel Nicolaus lifted their price target on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Canaccord Genuity Group boosted their target price on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, KeyCorp boosted their target price on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.16.

Zscaler Stock Performance

NASDAQ ZS opened at $196.45 on Thursday. Zscaler has a one year low of $153.45 and a one year high of $217.84. The company has a 50-day simple moving average of $195.83 and a 200-day simple moving average of $191.54. The firm has a market capitalization of $30.14 billion, a PE ratio of -785.80 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same period in the previous year, the business posted ($0.18) EPS. The company’s quarterly revenue was up 26.4% on a year-over-year basis. Equities analysts forecast that Zscaler will post -0.1 earnings per share for the current year.

Insider Activity

In other Zscaler news, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 over the last 90 days. 18.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC increased its stake in Zscaler by 1,151.0% in the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after buying an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Zweig DiMenna Associates LLC lifted its position in shares of Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after purchasing an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its position in shares of Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Zscaler by 1,786.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after acquiring an additional 14,274 shares in the last quarter. Institutional investors and hedge funds 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.