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

Zscaler (NASDAQ:ZS - Get Free Report) had its price target upped by equities researchers at JPMorgan Chase & Co. from $250.00 to $275.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 8.08% from the company's previous close.

ZS has been the subject of a number of other reports. Royal Bank of Canada lifted their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Scotiabank reaffirmed a "sector outperform" rating and issued a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Sanford C. Bernstein reiterated an "outperform" rating and set a $244.00 target price on shares of Zscaler in a research note on Thursday, March 6th. BTIG Research set a $252.00 price target on Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the stock a "neutral" rating in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus target price of $239.31.

Zscaler Price Performance

NASDAQ ZS traded up $1.62 during trading hours on Friday, hitting $254.44. The company's stock had a trading volume of 294,901 shares, compared to its average volume of 2,046,603. Zscaler has a 12 month low of $153.45 and a 12 month high of $255.33. The company's 50 day simple moving average is $214.53 and its two-hundred day simple moving average is $203.84. The company has a market cap of $39.37 billion, a P/E ratio of -1,018.78 and a beta of 1.14.

Insider Transactions at Zscaler

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

Institutional Trading of Zscaler

A number of large investors have recently modified their holdings of the company. LaFleur & Godfrey LLC raised its holdings in shares of Zscaler by 0.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock valued at $11,183,000 after acquiring an additional 399 shares in the last quarter. Avior Wealth Management LLC increased its position in Zscaler by 50.7% during the 4th quarter. Avior Wealth Management LLC now owns 214 shares of the company's stock valued at $39,000 after purchasing an additional 72 shares during the period. Zweig DiMenna Associates LLC increased its position in Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock valued at $14,061,000 after purchasing an additional 17,900 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Zscaler by 3.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,871 shares of the company's stock valued at $879,000 after purchasing an additional 156 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of Zscaler by 7.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,952 shares of the company's stock worth $1,435,000 after purchasing an additional 583 shares during the period. Hedge funds and other 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.

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