Zscaler (NASDAQ:ZS) Price Target Raised to $36.00

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Zscaler (NASDAQ:ZS) had its price objective boosted by UBS Group from $30.00 to $36.00 in a research note issued to investors on Thursday, June 7th, www.benzinga.com reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential downside of 1.72% from the company’s current price.

Several other equities analysts have also issued reports on the company. BTIG Research assumed coverage on Zscaler in a research report on Tuesday, April 10th. They set a “buy” rating and a $33.00 target price for the company. Barclays started coverage on Zscaler in a research report on Tuesday, April 10th. They set an “equal weight” rating and a $30.00 price target for the company. Needham & Company LLC started coverage on Zscaler in a research report on Tuesday, April 10th. They set a “strong-buy” rating and a $35.00 price target for the company. Credit Suisse Group started coverage on Zscaler in a research note on Tuesday, April 10th. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, Robert W. Baird assumed coverage on Zscaler in a research note on Tuesday, April 10th. They set an “outperform” rating and a $34.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $34.58.

ZS opened at $36.63 on Thursday. Zscaler has a fifty-two week low of $24.76 and a fifty-two week high of $43.98.

Zscaler (NASDAQ:ZS) last issued its earnings results on Wednesday, June 6th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $49.20 million during the quarter, compared to analyst estimates of $46.04 million. The business’s revenue was up 49.5% on a year-over-year basis. analysts forecast that Zscaler will post -0.18 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZS. BlackRock Inc. acquired a new stake in Zscaler in the first quarter valued at about $114,000. Atlantic Trust Group LLC bought a new position in Zscaler in the first quarter valued at about $136,000. Point72 Asia Hong Kong Ltd bought a new position in Zscaler in the first quarter valued at about $209,000. New York State Common Retirement Fund bought a new position in Zscaler in the first quarter valued at about $238,000. Finally, Point72 Asset Management L.P. bought a new position in Zscaler in the first quarter valued at about $281,000. 17.74% of the stock is currently owned by institutional investors.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company develops a software-as-a-service based security platform that secures access for users and devices to applications and services. It serves airline and transportation, conglomerate, consumer good and retail, financial service, healthcare, manufacturing, media and communication, public sector and education, technology, and telecommunications service industries.

Analyst Recommendations for Zscaler (NASDAQ:ZS)

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