Zscaler (NASDAQ:ZS) Reaches New 12-Month High After Analyst Upgrade


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Zscaler, Inc. (NASDAQ:ZS) shares hit a new 52-week high during trading on Wednesday after Truist raised their price target on the stock from $130.00 to $175.00. The company traded as high as $214.48 and last traded at $213.93, with a volume of 46052 shares traded. The stock had previously closed at $205.90.

Other research analysts also recently issued reports about the company. Robert W. Baird upped their price objective on Zscaler from $180.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barclays increased their price target on Zscaler from $171.00 to $208.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 6th. Loop Capital increased their price target on Zscaler from $170.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, December 3rd. Wedbush increased their price target on Zscaler from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, December 3rd. Finally, Credit Suisse Group increased their price target on Zscaler from $175.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $168.88.

In related news, Director Karen Blasing sold 1,042 shares of the business’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $181.69, for a total transaction of $189,320.98. Following the transaction, the director now directly owns 1,233 shares of the company’s stock, valued at $224,023.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dali Rajic sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 23rd. The shares were sold at an average price of $207.41, for a total transaction of $9,333,450.00. Following the transaction, the insider now directly owns 330,587 shares in the company, valued at $68,567,049.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 290,540 shares of company stock worth $56,071,621. 23.80% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Zscaler by 65.9% in the third quarter. State Street Corp now owns 1,522,127 shares of the company’s stock worth $214,148,000 after buying an additional 604,465 shares during the last quarter. BlackRock Inc. raised its position in Zscaler by 10.7% in the third quarter. BlackRock Inc. now owns 5,981,644 shares of the company’s stock worth $841,558,000 after purchasing an additional 580,073 shares in the last quarter. FMR LLC lifted its stake in Zscaler by 19.5% during the second quarter. FMR LLC now owns 1,957,321 shares of the company’s stock worth $214,326,000 after purchasing an additional 318,736 shares during the period. First Trust Advisors LP boosted its holdings in Zscaler by 21.5% during the third quarter. First Trust Advisors LP now owns 1,638,024 shares of the company’s stock valued at $230,454,000 after purchasing an additional 290,158 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Zscaler by 109.3% during the third quarter. Voloridge Investment Management LLC now owns 529,213 shares of the company’s stock valued at $74,455,000 after purchasing an additional 276,339 shares in the last quarter. 42.24% of the stock is owned by institutional investors.

The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 1.78. The business has a fifty day simple moving average of $185.25 and a two-hundred day simple moving average of $146.72. The company has a market capitalization of $27.79 billion, a price-to-earnings ratio of -232.67 and a beta of 0.79.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, December 1st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.08. The company had revenue of $142.60 million for the quarter, compared to the consensus estimate of $132.29 million. Zscaler had a negative return on equity of 24.33% and a negative net margin of 26.69%. The company’s quarterly revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, equities analysts predict that Zscaler, Inc. will post -1.56 earnings per share for the current fiscal year.

Zscaler Company Profile (NASDAQ:ZS)

Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, internet of things, and device 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 internally managed applications, either hosted internally in data centers, and private or public clouds.

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