Zscaler (NASDAQ:ZS) Given New $292.00 Price Target at JPMorgan Chase & Co.

Zscaler (NASDAQ:ZS) had its target price lifted by research analysts at JPMorgan Chase & Co. from $275.00 to $292.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.56% from the company’s current price.

ZS has been the topic of several other reports. Needham & Company LLC boosted their target price on Zscaler from $240.00 to $310.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets boosted their target price on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Stifel Nicolaus boosted their target price on Zscaler from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday. Bank of America raised Zscaler from a “neutral” rating to a “buy” rating and boosted their target price for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Finally, Mizuho boosted their target price on Zscaler from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Ten research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.12.

Zscaler Price Performance

Shares of Zscaler stock opened at $274.03 on Friday. The business’s 50 day simple moving average is $220.62 and its two-hundred day simple moving average is $206.33. The stock has a market capitalization of $42.40 billion, a P/E ratio of -1,096.12 and a beta of 1.14. Zscaler has a one year low of $153.45 and a one year high of $276.49.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $667.13 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Sell-side analysts expect that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler 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 sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,771 shares of company stock worth $50,165,040. 18.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its stake in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the period. ORG Partners LLC raised its stake in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares during the period. SVB Wealth LLC bought a new stake in Zscaler during the 1st quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in Zscaler during the 4th quarter valued at approximately $27,000. Finally, Colonial Trust Co SC purchased a new position in Zscaler during the 4th quarter valued at approximately $28,000. 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.