Zscaler (NASDAQ:ZS) Price Target Raised to $240.00 at JPMorgan Chase & Co.

Zscaler (NASDAQ:ZS) had its target price upped by investment analysts at JPMorgan Chase & Co. from $220.00 to $240.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.10% from the company’s previous close.

Several other equities analysts also recently commented on ZS. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and cut their target price for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Morgan Stanley lifted their price objective on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Piper Sandler cut their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Ten investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.13.

Zscaler Trading Down 2.5 %

ZS traded down $5.34 during midday trading on Friday, reaching $204.96. The company’s stock had a trading volume of 1,559,086 shares, compared to its average volume of 1,531,932. The stock has a market cap of $31.45 billion, a P/E ratio of -512.39 and a beta of 0.82. The company has a fifty day simple moving average of $188.79 and a 200 day simple moving average of $184.36. Zscaler has a twelve month low of $153.45 and a twelve month high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the firm earned ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% compared to the same quarter last year. Sell-side analysts expect that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on 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 sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % 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 owned by company insiders.

Institutional Inflows and Outflows

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