Zscaler (NASDAQ:ZS) Price Target Raised to $245.00 at Jefferies Financial Group

Zscaler (NASDAQ:ZS) had its target price raised by Jefferies Financial Group from $225.00 to $245.00 in a report published on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Rosenblatt Securities restated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their target price for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. BNP Paribas started coverage on Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $219.32.

Zscaler Stock Performance

Shares of Zscaler stock opened at $210.30 on Tuesday. The company has a market cap of $32.07 billion, a P/E ratio of -525.75 and a beta of 0.82. The firm has a fifty day moving average of $187.27 and a two-hundred day moving average of $183.96. Zscaler has a one year low of $153.45 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, equities analysts predict that Zscaler will post -0.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now directly owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 over the last three months. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Zscaler

Several hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its position in Zscaler by 59.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock valued at $429,000 after buying an additional 834 shares during the last quarter. Janus Henderson Group PLC grew its stake in Zscaler by 11.8% during the 1st quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock valued at $1,757,000 after purchasing an additional 963 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Zscaler by 3.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock worth $724,000 after purchasing an additional 111 shares during the last quarter. Tidal Investments LLC increased its holdings in Zscaler by 7.4% during the 1st quarter. Tidal Investments LLC now owns 4,938 shares of the company’s stock worth $951,000 after purchasing an additional 341 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its stake in shares of Zscaler by 1,176.3% during the 1st quarter. Plato Investment Management Ltd now owns 4,365 shares of the company’s stock valued at $841,000 after buying an additional 4,023 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices 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 managed applications hosted internally in data centers, and private or public clouds.