Zscaler, Inc. (NASDAQ:ZS – Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $177.69 and last traded at $173.78, with a volume of 400614 shares changing hands. The stock had previously closed at $170.40.
Analysts Set New Price Targets
ZS has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price objective on shares of Zscaler from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, September 6th. Macquarie upped their target price on Zscaler from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, September 6th. Stifel Nicolaus upped their target price on Zscaler from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Stephens reaffirmed an “overweight” rating and issued a $190.00 price target on shares of Zscaler in a report on Wednesday, September 6th. Finally, Morgan Stanley upped their price target on shares of Zscaler from $145.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, September 29th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.94.
Check Out Our Latest Research Report on ZS
Zscaler Stock Performance
Zscaler (NASDAQ:ZS – Get Free Report) last released its earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.15. The business had revenue of $455.00 million for the quarter, compared to the consensus estimate of $430.38 million. Zscaler had a negative return on equity of 31.64% and a negative net margin of 12.51%. The business’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) earnings per share. Research analysts forecast that Zscaler, Inc. will post -1.11 EPS for the current fiscal year.
Insider Buying and Selling
In other Zscaler news, Director Amit Sinha sold 7,360 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $165.69, for a total transaction of $1,219,478.40. Following the transaction, the director now owns 42,320 shares of the company’s stock, valued at $7,012,000.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Zscaler news, Director Amit Sinha sold 7,360 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $165.69, for a total value of $1,219,478.40. Following the transaction, the director now directly owns 42,320 shares in the company, valued at approximately $7,012,000.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 5,013 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $154.45, for a total transaction of $774,257.85. Following the completion of the transaction, the insider now owns 130,764 shares in the company, valued at $20,196,499.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,718 shares of company stock worth $19,814,486. 19.80% of the stock is owned by insiders.
Hedge Funds Weigh In On Zscaler
Several large investors have recently modified their holdings of ZS. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Zscaler by 91,079.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,855,328 shares of the company’s stock worth $1,295,534,000 after acquiring an additional 8,845,616 shares during the last quarter. WestBridge Capital Management LLC acquired a new position in Zscaler during the 1st quarter worth about $233,242,000. Marshall Wace LLP lifted its stake in Zscaler by 2,324.4% during the 2nd quarter. Marshall Wace LLP now owns 1,187,102 shares of the company’s stock worth $173,673,000 after acquiring an additional 1,138,138 shares in the last quarter. Trivest Advisors Ltd lifted its stake in Zscaler by 20,415.2% during the 2nd quarter. Trivest Advisors Ltd now owns 1,025,760 shares of the company’s stock worth $150,069,000 after acquiring an additional 1,020,760 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in Zscaler during the 2nd quarter worth about $127,215,000. Institutional investors and hedge funds 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.
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