Zscaler (NASDAQ:ZS) PT Raised to $190.00

Zscaler (NASDAQ:ZS) had its target price raised by research analysts at JPMorgan Chase & Co. from $174.00 to $190.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 2.95% from the stock’s current price.

Other equities analysts have also issued reports about the company. Bank of America increased their price target on Zscaler from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Canaccord Genuity Group increased their price target on Zscaler from $172.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Barclays raised Zscaler from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $176.00 to $190.00 in a research note on Monday, October 9th. BTIG Research raised their price objective on Zscaler from $185.00 to $191.00 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. Finally, Jefferies Financial Group raised Zscaler from a “hold” rating to a “buy” rating and raised their price objective for the stock from $170.00 to $225.00 in a research note on Thursday, October 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $184.37.

Zscaler Stock Down 1.4 %

ZS opened at $184.56 on Tuesday. Zscaler has a 12 month low of $84.93 and a 12 month high of $189.54. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $27.16 billion, a P/E ratio of -130.89 and a beta of 0.81. The stock’s 50 day moving average price is $162.30 and its 200 day moving average price is $147.85.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.15. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $430.38 million. Zscaler had a negative return on equity of 31.64% and a negative net margin of 12.51%. The firm’s quarterly revenue was up 43.0% on a year-over-year basis. During the same period last year, the company posted ($0.40) EPS. As a group, research analysts predict that Zscaler will post -1.11 earnings per share for the current year.

Insider Activity

In related news, Director Amit Sinha sold 7,360 shares of Zscaler stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $165.69, for a total transaction of $1,219,478.40. Following the sale, the director now directly owns 42,320 shares of the company’s stock, valued at $7,012,000.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Zscaler news, COO Dali Rajic sold 22,000 shares of Zscaler stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $157.22, for a total transaction of $3,458,840.00. Following the sale, the chief operating officer now directly owns 262,406 shares of the company’s stock, valued at $41,255,471.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amit Sinha sold 7,360 shares of Zscaler stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $165.69, for a total value of $1,219,478.40. Following the sale, the director now directly owns 42,320 shares in the company, valued at $7,012,000.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,578 shares of company stock valued at $16,906,410. 19.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently added to or reduced their stakes in ZS. Financial Gravity Asset Management Inc. bought a new position in shares of Zscaler in the second quarter valued at approximately $910,000. BluePath Capital Management LLC bought a new position in shares of Zscaler in the third quarter valued at approximately $32,000. Exchange Traded Concepts LLC bought a new position in shares of Zscaler in the second quarter valued at approximately $40,000. Coppell Advisory Solutions LLC bought a new position in shares of Zscaler in the second quarter valued at approximately $45,000. Finally, KB Financial Partners LLC bought a new position in shares of Zscaler in the first quarter valued at approximately $39,000. 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.