Zscaler (NASDAQ:ZS) Price Target Raised to $240.00

Zscaler (NASDAQ:ZS) had its price objective raised by JPMorgan Chase & Co. from $220.00 to $240.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on ZS. Susquehanna restated a “positive” rating and issued a $210.00 price target on shares of Zscaler in a research note on Thursday, September 5th. Piper Sandler reduced their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley upped their price target on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. UBS Group dropped their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $221.13.

Zscaler Price Performance

Shares of Zscaler stock opened at $206.59 on Friday. The firm has a market cap of $31.70 billion, a price-to-earnings ratio of -516.46 and a beta of 0.82. Zscaler has a one year low of $153.45 and a one year high of $259.61. The stock’s 50-day moving average is $190.12 and its 200-day moving average is $184.78.

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

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 8,455 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the sale, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by company insiders.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new position in shares of Zscaler in the 2nd quarter worth about $28,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler during the 3rd quarter valued at approximately $31,000. True Wealth Design LLC increased its stake in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Zscaler in the third quarter valued at approximately $38,000. 46.45% of the stock is 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.