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

Zscaler (NASDAQ:ZS) had its price objective increased by analysts at JPMorgan Chase & Co. from $240.00 to $250.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 27.26% from the stock’s previous close.

A number of other analysts have also recently commented on ZS. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $235.00 in a research report on Thursday. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. Citigroup reiterated a “buy” rating on shares of Zscaler in a research report on Wednesday. Susquehanna raised their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Finally, Canaccord Genuity Group upped their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $229.52.

Zscaler Stock Performance

ZS stock opened at $196.45 on Thursday. The firm has a 50-day simple moving average of $195.83 and a two-hundred day simple moving average of $191.54. Zscaler has a one year low of $153.45 and a one year high of $217.84. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of -785.80 and a beta of 0.89.

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

Insider Activity at Zscaler

In related news, insider Syam Nair sold 3,682 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 $737,578.24. Following the sale, the insider now directly owns 142,866 shares in the company, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently made changes to their positions in ZS. Siemens Fonds Invest GmbH purchased a new stake in Zscaler during the fourth quarter worth about $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Zscaler in the fourth quarter valued at approximately $28,802,000. Brooklyn FI LLC acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $1,957,000. Azzad Asset Management Inc. ADV increased its stake in Zscaler by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company’s stock worth $3,390,000 after buying an additional 85 shares during the period. Finally, Liberty Square Wealth Partners LLC acquired a new stake in Zscaler during the 4th quarter worth approximately $209,000. 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.