Zscaler (NASDAQ:ZS) Price Target Raised to $310.00 at JMP Securities

Zscaler (NASDAQ:ZS) had its price objective lifted by JMP Securities from $240.00 to $310.00 in a report released on Friday morning,Benzinga reports. They currently have a market outperform rating on the stock.

ZS has been the subject of a number of other reports. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Sanford C. Bernstein reissued an “outperform” rating and set a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. BTIG Research set a $252.00 target price on Zscaler and gave the stock a “buy” rating in a research report on Thursday, March 6th. Stifel Nicolaus lifted their price target on Zscaler from $235.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, Robert W. Baird boosted their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Nine analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.12.

Zscaler Price Performance

ZS opened at $274.03 on Friday. The stock’s 50 day moving average price is $220.62 and its 200 day moving average price is $206.35. The stock has a market cap of $42.40 billion, a P/E ratio of -1,096.12 and a beta of 1.14. Zscaler has a 12 month low of $153.45 and a 12 month high of $276.49.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 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 22.6% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. Equities analysts anticipate that Zscaler will post -0.1 EPS for the current year.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Syam Nair sold 28,947 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the transaction, the insider now directly owns 110,566 shares of the company’s stock, valued at approximately $27,641,500. This trade represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,771 shares of company stock worth $50,165,040. 18.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

Several large investors have recently made changes to their positions in ZS. SYM FINANCIAL Corp acquired a new stake in Zscaler during the fourth quarter valued at $303,000. Mediolanum International Funds Ltd lifted its holdings in Zscaler by 17.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 53,646 shares of the company’s stock valued at $9,800,000 after purchasing an additional 7,892 shares in the last quarter. Choreo LLC raised its holdings in shares of Zscaler by 2.6% during the 4th quarter. Choreo LLC now owns 2,833 shares of the company’s stock worth $517,000 after acquiring an additional 73 shares during the period. Arlington Capital Management Inc. acquired a new stake in shares of Zscaler during the 4th quarter worth about $2,107,000. Finally, DnB Asset Management AS increased its position in shares of Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after purchasing an additional 267,162 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

About Zscaler

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.