Zscaler (NASDAQ:ZS) Given New $310.00 Price Target at JMP Securities

Zscaler (NASDAQ:ZS - Free Report) had its price target increased by JMP Securities from $240.00 to $310.00 in a report published on Friday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other research analysts have also issued reports on ZS. Stifel Nicolaus raised their target price on Zscaler from $235.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company raised their price objective on Zscaler from $210.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Friday. BMO Capital Markets upped their target price on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Morgan Stanley decreased their target price on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Rosenblatt Securities raised their price target on shares of Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a report on Friday. Ten research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and an average target price of $275.12.

Zscaler Stock Performance

Shares of ZS traded up $22.92 during trading hours on Friday, reaching $274.03. The stock had a trading volume of 9,940,403 shares, compared to its average volume of 2,045,319. Zscaler has a 12 month low of $153.45 and a 12 month high of $276.49. The stock has a market capitalization of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14. The company's 50-day moving average is $220.62 and its two-hundred day moving average is $206.33.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company's revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. Equities analysts anticipate that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,771 shares of company stock worth $50,165,040. Insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Zscaler

Large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. purchased a new position in shares of Zscaler in the 1st quarter worth approximately $516,622,000. Nuveen LLC bought a new stake in Zscaler during the first quarter worth $153,340,000. Goldman Sachs Group Inc. boosted its position in Zscaler by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock worth $604,831,000 after purchasing an additional 578,883 shares during the last quarter. AQR Capital Management LLC grew its stake in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares during the period. Finally, Natixis bought a new position in Zscaler in the 4th quarter valued at $87,775,000. 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.