Analysts Set Zscaler Inc (NASDAQ:ZS) Target Price at $72.00

Shares of Zscaler Inc (NASDAQ:ZS) have received a consensus recommendation of “Buy” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $72.00.

Several analysts recently issued reports on the company. Robert W. Baird reissued a “buy” rating and issued a $65.00 target price on shares of Zscaler in a research note on Tuesday, April 9th. ValuEngine raised Zscaler from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Wedbush reissued a “buy” rating and issued a $82.00 target price on shares of Zscaler in a research note on Friday, May 31st. Zacks Investment Research raised Zscaler from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Saturday. Finally, Barclays raised their price objective on shares of Zscaler from $42.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st.

In other news, EVP Amit Sinha sold 50,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.75, for a total transaction of $3,237,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Remo Canessa sold 110,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $78.19, for a total transaction of $8,600,900.00. The disclosure for this sale can be found here. Insiders have sold 390,571 shares of company stock valued at $27,811,197 over the last quarter. Company insiders own 27.40% of the company’s stock.

Several hedge funds have recently modified their holdings of ZS. Alexandria Capital LLC lifted its stake in shares of Zscaler by 2.4% during the 4th quarter. Alexandria Capital LLC now owns 12,990 shares of the company’s stock valued at $509,000 after buying an additional 305 shares in the last quarter. Tortoise Index Solutions LLC purchased a new position in shares of Zscaler during the 1st quarter valued at $25,000. FTB Advisors Inc. purchased a new position in shares of Zscaler during the 1st quarter valued at $26,000. Nisa Investment Advisors LLC purchased a new position in shares of Zscaler during the 1st quarter valued at $28,000. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of Zscaler by 211.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock valued at $50,000 after buying an additional 475 shares in the last quarter. 34.36% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ZS opened at $75.83 on Friday. Zscaler has a 12-month low of $30.72 and a 12-month high of $80.38. The stock has a market cap of $9.49 billion, a PE ratio of -244.61 and a beta of 1.18.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. The company had revenue of $79.10 million for the quarter, compared to the consensus estimate of $74.92 million. During the same period last year, the business posted ($0.02) earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Zscaler will post -0.17 EPS for the current fiscal year.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service 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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Analyst Recommendations for Zscaler (NASDAQ:ZS)

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