Zscaler (NASDAQ:ZS) Given New $245.00 Price Target at Jefferies Financial Group

Zscaler (NASDAQ:ZS) had its price objective upped by Jefferies Financial Group from $225.00 to $245.00 in a research report released on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other research firms have also weighed in on ZS. Wells Fargo & Company cut their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Barclays increased their price objective on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. UBS Group reduced their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Robert W. Baird lowered their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Finally, Scotiabank cut their price target on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $221.13.

Zscaler Stock Up 0.8 %

Zscaler stock opened at $206.59 on Tuesday. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61. The firm has a market cap of $31.70 billion, a PE ratio of -512.39 and a beta of 0.82. The company’s 50 day moving average is $189.44 and its two-hundred day moving average is $184.50.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, equities research analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares of the company’s stock, valued at $4,510,408.70. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last three months. 19.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

Large investors have recently made changes to their positions in the stock. Tidal Investments LLC grew its holdings in shares of Zscaler by 278.9% in the 3rd quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock worth $5,829,000 after acquiring an additional 25,099 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Zscaler during the third quarter worth $38,000. Sanctuary Advisors LLC grew its holdings in Zscaler by 48.1% in the third quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock valued at $1,899,000 after purchasing an additional 3,608 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Zscaler by 103.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock valued at $7,013,000 after buying an additional 20,900 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Zscaler by 50.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock worth $397,000 after buying an additional 761 shares during 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.