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

Zscaler (NASDAQ:ZS) had its target price lifted by analysts at JPMorgan Chase & Co. from $205.00 to $215.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 27.12% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Zscaler in a research report on Wednesday, June 10th. TD Cowen upped their target price on shares of Zscaler from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $225.00 price target on shares of Zscaler in a report on Wednesday, August 19th. UBS Group cut their target price on Zscaler from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Wolfe Research restated an “outperform” rating and set a $150.00 price target on shares of Zscaler in a report on Thursday, June 11th. Thirty-four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $216.18.

Zscaler Stock Up 0.4%

NASDAQ ZS opened at $169.13 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market capitalization of $27.35 billion, a P/E ratio of -352.87, a P/E/G ratio of 103.63 and a beta of 0.94. Zscaler has a one year low of $114.63 and a one year high of $336.99. The stock has a 50 day moving average price of $152.84 and a 200-day moving average price of $149.98.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, May 26th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. Zscaler had a negative net margin of 2.44% and a negative return on equity of 0.37%. The firm had revenue of $850.48 million during the quarter, compared to analyst estimates of $835.14 million. During the same period last year, the firm posted $0.84 earnings per share. Zscaler’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, equities analysts predict that Zscaler will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kevin Rubin sold 503 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $147.12, for a total transaction of $74,001.36. Following the completion of the transaction, the chief financial officer owned 41,398 shares in the company, valued at $6,090,473.76. The trade was a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Adam Geller sold 2,817 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $122.60, for a total value of $345,364.20. Following the completion of the transaction, the insider directly owned 42,314 shares in the company, valued at $5,187,696.40. This trade represents a 6.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,269 shares of company stock valued at $2,052,589 over the last quarter. 17.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZS. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Zscaler by 1.4% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,569 shares of the company’s stock valued at $770,000 after purchasing an additional 36 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Zscaler by 10.9% in the 3rd quarter. Parallel Advisors LLC now owns 397 shares of the company’s stock worth $119,000 after purchasing an additional 39 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Zscaler by 7.5% during the second quarter. Smartleaf Asset Management LLC now owns 648 shares of the company’s stock valued at $204,000 after purchasing an additional 45 shares during the last quarter. Larson Financial Group LLC lifted its stake in Zscaler by 2.6% during the third quarter. Larson Financial Group LLC now owns 2,040 shares of the company’s stock valued at $611,000 after purchasing an additional 52 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in Zscaler by 6.1% during the third quarter. Crossmark Global Holdings Inc. now owns 976 shares of the company’s stock worth $292,000 after buying an additional 56 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

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.