Jefferies Financial Group Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS) had its price objective raised by Jefferies Financial Group from $225.00 to $245.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also issued reports on the company. BMO Capital Markets lowered their target price on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. Citigroup lowered their target price on Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Scotiabank reduced their price objective on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research report 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.48.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $204.96 on Tuesday. The firm has a market cap of $31.45 billion, a price-to-earnings ratio of -512.39 and a beta of 0.82. The business’s 50-day simple moving average is $188.79 and its 200-day simple moving average is $184.36. Zscaler has a 52 week low of $153.45 and a 52 week 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, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. As a group, equities research analysts forecast that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction 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 of the company’s stock, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by insiders.

Institutional Trading of Zscaler

Institutional investors have recently modified their holdings of the company. Quest Partners LLC bought a new stake in Zscaler during the second quarter worth about $28,000. Prestige Wealth Management Group LLC bought a new stake in Zscaler during the third quarter worth about $31,000. True Wealth Design LLC raised its holdings in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares in the last quarter. Asset Dedication LLC raised its holdings in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Zscaler during the third quarter worth about $38,000. 46.45% of the stock is currently owned by 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.