Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Zscaler (NASDAQ:ZS - Get Free Report) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $275.00 to $292.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 6.56% from the stock's previous close.

ZS has been the subject of a number of other research reports. Barclays reissued an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Wells Fargo & Company lifted their target price on Zscaler from $210.00 to $260.00 and gave the stock an "equal weight" rating in a report on Friday. Cantor Fitzgerald lifted their target price on Zscaler from $250.00 to $275.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. UBS Group lifted their target price on Zscaler from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Friday. Finally, Citigroup reissued a "buy" rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $275.12.

Zscaler Trading Up 9.1%

Shares of ZS stock traded up $22.92 during midday trading on Friday, reaching $274.03. 9,940,403 shares of the stock were exchanged, compared to its average volume of 2,045,319. Zscaler has a 1 year low of $153.45 and a 1 year high of $276.49. The company's 50 day moving average is $220.62 and its two-hundred day moving average is $206.31. The firm has a market cap of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14.

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

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 2,878 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. The trade was a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,771 shares of company stock worth $50,165,040 over the last 90 days. Company insiders own 18.10% of the company's stock.

Institutional Trading of Zscaler

A number of hedge funds have recently bought and sold shares of the stock. Anderson Financial Strategies LLC acquired a new position in shares of Zscaler during the first quarter worth $238,000. Geneos Wealth Management Inc. increased its position in shares of Zscaler by 26.7% during the first quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company's stock worth $1,224,000 after purchasing an additional 1,299 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Zscaler by 10.8% during the first quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company's stock worth $231,000 after purchasing an additional 114 shares in the last quarter. Jupiter Wealth Management LLC acquired a new position in shares of Zscaler during the first quarter worth $298,000. Finally, Focus Partners Wealth increased its position in shares of Zscaler by 2.5% during the first quarter. Focus Partners Wealth now owns 62,083 shares of the company's stock worth $12,319,000 after purchasing an additional 1,517 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

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.