Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Zscaler (NASDAQ:ZS) had its price target boosted by JPMorgan Chase & Co. from $220.00 to $240.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently weighed in on ZS. Wells Fargo & Company decreased their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Oppenheimer decreased their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. BNP Paribas began coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target for the company. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a report on Monday, November 18th. Finally, Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $221.13.

Zscaler Trading Up 0.8 %

ZS opened at $206.59 on Friday. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The company has a market cap of $31.70 billion, a PE ratio of -516.46 and a beta of 0.82. The company has a 50 day moving average of $190.12 and a 200 day moving average of $184.78.

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

Insider Buying and Selling

In other news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 over the last ninety days. 19.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC lifted its position in Zscaler by 278.9% during the 3rd quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock valued at $5,829,000 after acquiring an additional 25,099 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Zscaler during the third quarter valued at approximately $38,000. Sanctuary Advisors LLC boosted its position in shares of Zscaler by 48.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock worth $1,899,000 after purchasing an additional 3,608 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Zscaler by 103.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock worth $7,013,000 after buying an additional 20,900 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in Zscaler by 50.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock valued at $397,000 after buying an additional 761 shares in the last quarter. Hedge funds and other institutional investors 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.