Jefferies Financial Group Cuts Zscaler (NASDAQ:ZS) Price Target to $240.00

Zscaler (NASDAQ:ZS) had its price target dropped by stock analysts at Jefferies Financial Group from $245.00 to $240.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 19.36% from the company’s previous close.

Several other brokerages have also issued reports on ZS. Susquehanna boosted their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a report on Tuesday, December 3rd. Oppenheimer increased their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Loop Capital cut their price target on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research note on Tuesday, December 3rd. Citigroup reiterated a “buy” rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada raised their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $232.35.

Zscaler Trading Up 1.3 %

Shares of NASDAQ:ZS opened at $201.07 on Monday. The firm has a market capitalization of $31.11 billion, a PE ratio of -804.28 and a beta of 0.88. Zscaler has a 1-year low of $153.45 and a 1-year high of $217.84. The business’s 50 day moving average is $202.49 and its 200-day moving average is $194.34.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. This represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the transaction, the insider now directly owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently made changes to their positions in the company. Global X Japan Co. Ltd. lifted its holdings in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Zscaler during the 4th quarter valued at about $27,000. Colonial Trust Co SC acquired a new position in shares of Zscaler in the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC bought a new stake in Zscaler during the 4th quarter worth approximately $29,000. Finally, Elequin Capital LP acquired a new stake in Zscaler during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.