JMP Securities Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS - Get Free Report) had its target price upped by equities researchers at JMP Securities from $310.00 to $355.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' price objective would indicate a potential upside of 12.22% from the company's current price.

Several other research firms have also recently weighed in on ZS. BNP Paribas upgraded shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target on the stock in a report on Monday, April 28th. Scotiabank lifted their target price on shares of Zscaler from $310.00 to $360.00 and gave the company a "sector outperform" rating in a research note on Friday, June 6th. Susquehanna increased their price target on shares of Zscaler from $245.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, May 30th. Bank of America raised their price objective on shares of Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, Wells Fargo & Company upgraded Zscaler from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $260.00 to $385.00 in a report on Friday, June 13th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $296.82.

Zscaler Stock Up 0.8%

Shares of NASDAQ ZS opened at $316.34 on Tuesday. The company has a market cap of $49.25 billion, a price-to-earnings ratio of -1,217.19 and a beta of 1.09. Zscaler has a 52 week low of $153.45 and a 52 week high of $317.26. The firm's fifty day moving average is $265.70 and its 200 day moving average is $220.81.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. Equities research analysts anticipate that Zscaler will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other news, EVP Raj Judge sold 2,957 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $898,040.90. Following the completion of the sale, the executive vice president owned 76,289 shares of the company's stock, valued at $23,168,969.30. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $865,241.30. Following the sale, the chief executive officer directly owned 353,565 shares of the company's stock, valued at $107,377,690.50. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,793 shares of company stock worth $60,812,794. 18.10% of the stock is owned by corporate insiders.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently modified their holdings of the company. ORG Partners LLC grew its stake in Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. SVB Wealth LLC bought a new stake in Zscaler in the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Zscaler during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Zscaler during the 1st quarter valued at approximately $29,000. Finally, Summit Securities Group LLC purchased a new position in shares of Zscaler in the fourth quarter valued at $27,000. 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.

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