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

Zscaler (NASDAQ:ZS) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $240.00 to $250.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 27.26% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Oppenheimer upped their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Morgan Stanley reduced their target price on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 3rd. Barclays restated an “overweight” rating on shares of Zscaler in a research note on Wednesday. BMO Capital Markets increased their price objective on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.52.

Zscaler Trading Up 1.4 %

Shares of Zscaler stock opened at $196.45 on Thursday. The company’s fifty day simple moving average is $195.83 and its two-hundred day simple moving average is $191.54. The company has a market cap of $30.14 billion, a P/E ratio of -785.80 and a beta of 0.89. Zscaler has a 12-month low of $153.45 and a 12-month high of $217.84.

Zscaler (NASDAQ:ZS) last announced 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 firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.18) EPS. Analysts predict that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at $71,828,542.08. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zscaler

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