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

Zscaler (NASDAQ:ZS) had its price objective increased by Jefferies Financial Group from $225.00 to $245.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

ZS has been the subject of several other reports. Wells Fargo & Company lowered their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. KeyCorp raised their price objective on Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. BTIG Research dropped their target price on Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley increased their price target on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Finally, Piper Sandler dropped their price target on Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $221.13.

Zscaler Stock Up 0.8 %

ZS opened at $206.59 on Tuesday. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The company has a market capitalization of $31.70 billion, a P/E ratio of -512.39 and a beta of 0.82. The stock’s fifty day moving average is $189.44 and its two-hundred day moving average is $184.50.

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

Insider Buying and Selling at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 over the last quarter. 19.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

A number of institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Zscaler during the second quarter valued at about $28,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC raised its position in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Zscaler during the third quarter worth $38,000. Finally, Asset Dedication LLC boosted its position in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.