Zscaler (NASDAQ:ZS) Given New $215.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Zscaler’s price target to $215 from $205 and maintained an “overweight” rating, implying 27.12% upside from the prior close.
• Analyst sentiment remains positive overall: 34 analysts rate the stock a Buy, six a Hold and one a Sell, producing a “Moderate Buy” consensus and an average price target of $216.18.
• Zscaler exceeded quarterly expectations, reporting $1.08 in EPS versus $1.01 expected and $850.48 million in revenue versus $835.14 million forecast; revenue increased 25.4% year over year.

Zscaler (NASDAQ:ZS - Get Free Report) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $205.00 to $215.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 27.12% from the company's previous close.

Several other analysts also recently commented on ZS. Robert W. Baird reduced their target price on Zscaler from $265.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, May 27th. Guggenheim reaffirmed a "buy" rating and set a $214.00 price objective on shares of Zscaler in a report on Monday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $179.00 target price on shares of Zscaler in a report on Wednesday, May 27th. Stephens restated an "overweight" rating and issued a $200.00 price objective on shares of Zscaler in a research note on Friday, June 12th. Finally, Evercore set a $155.00 target price on Zscaler and gave the company an "in-line" rating in a research report on Wednesday, May 27th. Thirty-four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $216.18.

Zscaler Trading Up 0.4%

ZS opened at $169.13 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.86. Zscaler has a fifty-two week low of $114.63 and a fifty-two week high of $336.99. The firm has a market capitalization of $27.35 billion, a price-to-earnings ratio of -352.87, a PEG ratio of 103.63 and a beta of 0.94. The company's 50 day moving average price is $152.84 and its two-hundred day moving average price is $149.98.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.07. The company had revenue of $850.48 million during the quarter, compared to the consensus estimate of $835.14 million. Zscaler had a negative return on equity of 0.37% and a negative net margin of 2.44%.The firm's revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. As a group, research analysts predict that Zscaler will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Kevin Rubin sold 3,000 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $124.22, for a total value of $372,660.00. Following the sale, the chief financial officer owned 41,901 shares of the company's stock, valued at $5,204,942.22. This trade represents a 6.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Schlossman sold 3,146 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total value of $397,748.78. Following the transaction, the insider directly owned 69,366 shares in the company, valued at $8,769,943.38. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,269 shares of company stock valued at $2,052,589 over the last ninety days. Insiders own 17.20% of the company's stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in shares of Zscaler by 13,837.9% in the second quarter. California State Teachers Retirement System now owns 19,388,787 shares of the company's stock worth $2,736,727,000 after buying an additional 19,249,679 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Zscaler by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 11,423,424 shares of the company's stock valued at $2,569,357,000 after purchasing an additional 55,521 shares in the last quarter. BlackRock Inc. bought a new stake in Zscaler during the second quarter valued at about $1,396,028,000. First Trust Advisors LP grew its holdings in Zscaler by 36.2% during the 1st quarter. First Trust Advisors LP now owns 3,518,678 shares of the company's stock valued at $493,635,000 after buying an additional 935,781 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Zscaler by 43.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,572,358 shares of the company's stock valued at $578,576,000 after buying an additional 777,414 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

About Zscaler

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source