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

Zscaler (NASDAQ:ZS) had its price target increased by stock analysts at Jefferies Financial Group from $225.00 to $245.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 16.43% from the stock’s current price.

A number of other research firms have also recently weighed in on ZS. Scotiabank cut their price objective on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 4th. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. BTIG Research reduced their target price on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. BNP Paribas began coverage on Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price target on the stock. Finally, Needham & Company LLC reduced their price objective on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.32.

Zscaler Stock Performance

Zscaler stock opened at $210.42 on Tuesday. The company has a market capitalization of $32.09 billion, a price-to-earnings ratio of -526.04 and a beta of 0.82. The company’s 50 day simple moving average is $187.27 and its 200-day simple moving average is $183.96. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. Equities analysts expect that Zscaler will post -0.95 earnings per share for the current year.

Insider Activity at Zscaler

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

Hedge Funds Weigh In On Zscaler

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZS. Geode Capital Management LLC boosted its stake in shares of Zscaler by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after acquiring an additional 61,037 shares during the last quarter. 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.