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In a recent transaction, Andrew Brown, a director at Zscaler, Inc. (NASDAQ:ZS), sold 10,000 shares of the company’s common stock. The shares were sold at a price of $206 each, totaling $2.06 million. Following the sale on April 2, Brown holds 27,216 shares in Zscaler. The cybersecurity company, currently valued at nearly $30 billion, maintains strong financial health according to InvestingPro data, with impressive gross profit margins of 78%.
Additionally, Brown exercised stock options to acquire 10,000 shares at a price of $4.125 per share, amounting to a total cost of $41,250. The options were fully vested and immediately exercisable, as noted in the filing. With 34 analysts recently revising their earnings expectations upward, InvestingPro analysis suggests strong market confidence in Zscaler’s future performance.
These transactions are part of routine financial activities by company insiders, providing insight into their stock holdings and investment strategies. For deeper insights into Zscaler’s valuation and growth prospects, including 8 additional exclusive ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Zscaler has shown impressive financial performance, with a 23% increase in revenue and a 23% growth in Annual Recurring Revenue (ARR) for the second quarter, as noted by TD Cowen analysts. The company has also provided guidance to reach $3 billion in ARR by fiscal year 2025, signaling strong confidence in its demand trends. UBS analyst Roger Boyd raised Zscaler’s stock price target to $260, citing strong fourth-quarter billings that exceeded expectations. Stephens set a $255 price target, highlighting Zscaler’s potential for consistent top-line growth driven by trends in cloud computing and remote work.
Cantor Fitzgerald also increased its price target to $250, acknowledging Zscaler’s successful positioning as a leading Zero Trust Exchange platform. Stifel maintained a Buy rating with a $235 target, emphasizing the company’s financial results that surpassed expectations in billings, revenue, and margins. Zscaler’s effective go-to-market strategies and expanding zero trust security portfolio were credited for this performance. Analysts across the board have expressed confidence in Zscaler’s strategic investments and its ability to capitalize on current market trends, including increased demand for cybersecurity solutions.
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