Zscaler (NASDAQ:ZS) Price Target Raised to $160.00 at Bank of America

Posted by Defense World Staff on Jun 9th, 2023

Zscaler (NASDAQ:ZS – Get Rating) had its price objective raised by Bank of America from $145.00 to $160.00 in a research note issued to investors on Thursday morning, The Fly reports.

Several other research analysts have also commented on the company. Loop Capital raised their price target on Zscaler from $125.00 to $135.00 in a research report on Friday, June 2nd. BMO Capital Markets lifted their price objective on Zscaler from $120.00 to $150.00 in a research note on Friday, June 2nd. Capital One Financial initiated coverage on shares of Zscaler in a research note on Friday, March 17th. They set an equal weight rating and a $125.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Zscaler in a research note on Tuesday, February 14th. They issued a neutral rating and a $148.00 price target for the company. Finally, Credit Suisse Group dropped their price objective on shares of Zscaler from $275.00 to $165.00 and set an outperform rating on the stock in a research report on Wednesday, March 15th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $168.18.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $148.82 on Thursday. Zscaler has a 52-week low of $84.93 and a 52-week high of $194.21. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.01 and a current ratio of 2.01. The business has a fifty day moving average of $113.69 and a two-hundred day moving average of $118.19.

Zscaler (NASDAQ:ZS – Get Rating) last issued its earnings results on Thursday, June 1st. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Zscaler had a negative net margin of 18.20% and a negative return on equity of 41.57%. The company had revenue of $418.80 million for the quarter, compared to the consensus estimate of $411.55 million. During the same period in the previous year, the firm earned ($0.61) earnings per share. Zscaler’s quarterly revenue was up 46.0% compared to the same quarter last year. As a group, sell-side analysts predict that Zscaler will post -1.18 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 900 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $96,111.00. Following the completion of the transaction, the chief executive officer now owns 322,649 shares of the company’s stock, valued at $34,455,686.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Remo Canessa sold 6,229 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $665,194.91. Following the completion of the sale, the chief financial officer now directly owns 295,863 shares in the company, valued at $31,595,209.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 900 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total transaction of $96,111.00. Following the transaction, the chief executive officer now directly owns 322,649 shares in the company, valued at approximately $34,455,686.71. The disclosure for this sale can be found here. Insiders sold a total of 18,908 shares of company stock valued at $2,127,037 in the last ninety days. Corporate insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Institutional investors have recently bought and sold shares of the business. Accurate Wealth Management LLC purchased a new stake in shares of Zscaler during the fourth quarter worth about $27,000. Sonnipe Ltd bought a new position in shares of Zscaler in the 4th quarter worth about $28,000. Private Trust Co. NA bought a new position in Zscaler in the first quarter worth about $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Zscaler during the 1st quarter valued at approximately $29,000. Finally, Psagot Value Holdings Ltd. Israel bought a new position in Zscaler in the 4th quarter worth about $38,000. 45.33% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Company Profile

(Get Rating)

Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.

Analyst Recommendations for Zscaler (NASDAQ:ZS)

Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.