Zscaler (NASDAQ: ZS) recently received several price target increases and ratings from various brokerages. The Goldman Sachs Group raised its price objective on Zscaler shares from $154.00 to $172.00 and gave the company a “neutral” rating in a report. Deutsche Bank Aktiengesellschaft also raised their price target on Zscaler from $155.00 to $185.00 and rated the company as a “buy.” Additionally, Evercore ISI increased their price objective to $200.00 with an “outperform” rating, while UBS Group upped their price target from $175.00 to $190.00, giving the company a “buy” rating.
Furthermore, Truist Financial reissued a “buy” rating with a price objective of $175.00 for Zscaler stocks. Currently, fourteen investment analysts have assigned a hold rating, twenty-three have given it a buy rating, and one has issued a strong buy rating for the stock. According to data from Bloomberg.com, Zscaler has an average rating of “Moderate Buy” with an average price target of $182.79.
Several hedge funds have recently shown interest in buying and selling shares of Zscaler as well. Bank Julius Baer & Co., Vanguard Group Inc., Artisan Partners Limited Partnership, WestBridge Capital Management LLC, and First Trust Advisors LP are among some of the top investors in Zscaler stock.
NASDAQ:ZS closed at $161.11 on Friday with 439,930 shares traded compared to its average volume of 2,714,913 shares. The business currently boasts a fifty-day moving average of $148.42 and a 200-day moving average of $130.25. With a quick ratio and current ratio both at 1.96 and debt-to-equity ratio of 1.90, Zscaler displays a strong financial position. The stock’s 52-week range spans from $84.93 to $194.21, reflecting the significant growth it has experienced. Zscaler currently has a market capitalization of $23.50 billion and a price-to-earnings ratio of -114.20, indicating potential for future profitability.
Investors and analysts are keeping a close eye on Zscaler as the company continues to garner attention with its positive ratings, price target increases, and interest from hedge funds. With its impressive financials and solid market performance in recent times, Zscaler appears poised for continued success in the cybersecurity industry.
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Updated on: 10/09/2023
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Positive Outlook for Zscaler (NASDAQ:ZS) as Analysts Raise EPS Estimates
Zscaler, Inc. (NASDAQ:ZS) – Stock analysts at Cantor Fitzgerald have raised their FY2024 EPS estimates for shares of Zscaler in a recent research note. The forecast now predicts that the company will report earnings per share of ($1.12) for the year, an improvement from the previous estimate of ($1.22). Despite the positive adjustment, Cantor Fitzgerald maintains a “Neutral” rating and a $170.00 price target on the stock. The consensus estimate for Zscaler’s current full-year earnings is ($1.01) per share.
Various hedge funds have been active in buying and selling shares of ZS lately. Bank Julius Baer & Co. Ltd Zurich saw significant growth in its stake in Zscaler during the second quarter, owning 8,855,328 shares of the company’s stock worth $1,295,534,000 after acquiring an additional 8,845,616 shares during that period. Vanguard Group Inc., on the other hand, increased its holdings by 0.9% to reach 7,611,843 shares worth $1,836,586,000 after adding an extra 68,301 shares during Q1.
Artisan Partners Limited Partnership witnessed an impressive surge in its stake in Zscaler by 156% during Q4 compared to the Q2 benchmark and now holds approximately 4,774,237 shares valued at $534,237 million after bringing in another 2,909,o57 additional shares during this period.WestBridge Capital Management LLC entered into a new stake valued at $233 million during Q1.
Finally reaching shareholders who invested through First Trust Advisors LP has witnessed a measly increase in their position by only 4.7% following Q1 resulting on holding roughly close to investing just about USD$217 million though they’ve managed to collect an extra 84K plus indicates how little it managed to diversify the stock. 46.45% of the stock is currently owned by various institutional investors and hedge funds.
On September 5th, Zscaler (NASDAQ:ZS) released its quarterly earnings report, reporting an EPS of $0.64 that surpassed analyst predictions by $0.15. The company has reported a negative net margin of 12.51% and a negative return on equity of 34.75%. Its revenue for the quarter was $455 million, compared to the consensus expectation of $430.38 million, representing a year-over-year increase of 43%.
In other news surrounding Zscaler, COO Dali Rajic sold 22,000 shares of the company’s stock in early September for an average price of $157.22 per share, bringing in a total value of $3,458,840.00 from this transaction alone.The chief operating officer now owns approximately 262,406 shares in the company worth $41,255,471 following this sale.The sale was disclosed in a legal filing with the Securities & Exchange Commission (SEC), accessible via SEC’s website.For CFO Remo Canessa contributed to various transaction selling 12K plus at an average price tag selling for $144.03 each making his haul excess of USD$1mio+ after which he maintains abouts his flows equalling more than two hundred seventy two thousand sellable units whose market values excedes thirty nine million dollars.Lastly also having mentioned above shared this position with Chief Operating Officer Dali Rajic who managed to remove just as many shares prior for about another three point four mil whose number similarly stocked corporate value soared past forty one mil.
It has been noted that insiders have accumulated a total sum reachng over one hundred twenty eight thousand and four hundred eighty three sheares over ninety days passing.Whereby ironically it worth much more USD$19mio+ causing the number Vice President’s shares to be valued past nineteen point eight percent thus giving them a major boon for burdening ownership to themselves.