Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Zscaler (NASDAQ:ZS) had its target price increased by equities researchers at Wells Fargo & Company from $180.00 to $190.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 8.91% from the stock’s current price.

ZS has been the subject of several other reports. Loop Capital dropped their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday. Oppenheimer raised their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday. BNP Paribas started coverage on Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $240.00 target price on shares of Zscaler in a research report on Tuesday. Finally, UBS Group decreased their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Price Performance

Shares of ZS stock traded up $9.94 during mid-day trading on Wednesday, hitting $208.58. The stock had a trading volume of 1,896,576 shares, compared to its average volume of 2,047,745. The company’s 50-day simple moving average is $191.28 and its 200-day simple moving average is $185.15. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The firm has a market cap of $32.00 billion, a PE ratio of -834.32 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the company posted ($0.18) earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. On average, analysts expect that Zscaler will post -0.95 EPS for the current year.

Insider Transactions at Zscaler

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. This represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. 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. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

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

About Zscaler

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.