Zscaler (NASDAQ:ZS) Given New $250.00 Price Target at JPMorgan Chase & Co.

Zscaler (NASDAQ:ZS) had its target price hoisted by JPMorgan Chase & Co. from $240.00 to $250.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on the company. BTIG Research increased their target price on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Susquehanna upped their price target on Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Tuesday, December 3rd. Morgan Stanley cut their target price on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 3rd. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Finally, Scotiabank reaffirmed a “sector outperform” rating and set a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $232.84.

Zscaler Stock Up 2.9 %

Shares of ZS stock opened at $202.16 on Thursday. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84. The firm has a market cap of $31.02 billion, a PE ratio of -808.64 and a beta of 0.89. The stock has a 50 day moving average of $196.01 and a 200-day moving average of $191.57.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler’s revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. As a group, equities analysts predict that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,248 shares of company stock valued at $2,052,879. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently modified their holdings of the business. Global X Japan Co. Ltd. increased its stake in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new stake in Zscaler during the 4th quarter worth $27,000. Colonial Trust Co SC bought a new stake in Zscaler during the 4th quarter worth $28,000. Stonebridge Financial Group LLC bought a new stake in Zscaler during the 4th quarter worth $29,000. Finally, Elequin Capital LP bought a new stake in Zscaler during the 4th quarter worth $30,000. Institutional investors own 46.45% of the company’s stock.

About Zscaler

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.