Zscaler (NASDAQ:ZS) Price Target Raised to $245.00 at Jefferies Financial Group

Zscaler (NASDAQ:ZS) had its price objective upped by Jefferies Financial Group from $225.00 to $245.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 16.43% from the stock’s current price.

A number of other brokerages have also recently weighed in on ZS. BNP Paribas assumed coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective for the company. BMO Capital Markets cut their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Citigroup cut their price target on Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Wells Fargo & Company reduced their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $219.32.

Zscaler Stock Performance

ZS stock opened at $210.42 on Tuesday. The firm has a market cap of $32.09 billion, a PE ratio of -526.04 and a beta of 0.82. Zscaler has a one year low of $153.45 and a one year high of $259.61. The firm’s 50 day moving average price is $187.27 and its 200-day moving average price is $183.96.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share 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 business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the business posted ($0.17) EPS. The company’s revenue was up 30.3% compared to the same quarter last year. Equities research analysts predict that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,947 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. The trade was a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Zscaler by 278.9% in the third quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock valued at $5,829,000 after purchasing an additional 25,099 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Zscaler during the 3rd quarter worth approximately $38,000. Sanctuary Advisors LLC lifted its stake in Zscaler by 48.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock valued at $1,899,000 after buying an additional 3,608 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Zscaler by 103.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock valued at $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 third quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock worth $397,000 after buying an additional 761 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

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.