BMO Capital Markets Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its price objective boosted by BMO Capital Markets from $222.00 to $233.00 in a report released on Thursday,Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 18.61% from the company’s current price.

A number of other analysts have also recently commented on ZS. Deutsche Bank Aktiengesellschaft upped their price target on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Loop Capital lowered their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research note on Tuesday, December 3rd. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Robert W. Baird upped their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Oppenheimer lifted their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus target price of $229.87.

Zscaler Stock Performance

ZS opened at $196.45 on Thursday. The company has a fifty day moving average price of $195.83 and a two-hundred day moving average price 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 has a 52 week low of $153.45 and a 52 week high of $217.84.

Zscaler (NASDAQ:ZS) last announced 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 0.75% and a negative net margin of 1.58%. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the previous year, the firm earned ($0.18) earnings per share. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities analysts forecast that Zscaler will post -0.1 EPS for the current year.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 in the last ninety days. Insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Siemens Fonds Invest GmbH bought a new position in Zscaler in the 4th quarter valued at about $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Zscaler during the fourth quarter worth approximately $28,802,000. Brooklyn FI LLC bought a new position in shares of Zscaler during the fourth quarter worth approximately $1,957,000. Azzad Asset Management Inc. ADV increased its stake in shares of Zscaler by 0.5% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company’s stock worth $3,390,000 after purchasing an additional 85 shares during the period. Finally, Liberty Square Wealth Partners LLC acquired a new stake in Zscaler during the 4th quarter worth approximately $209,000. 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.