Zscaler (NASDAQ:ZS) Given New $250.00 Price Target at JPMorgan Chase & Co.

Zscaler (NASDAQ:ZS) had its price objective boosted by analysts at JPMorgan Chase & Co. from $240.00 to $250.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 19.75% from the stock’s previous close.

Several other research analysts have also issued reports on ZS. BMO Capital Markets increased their target price on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. KeyCorp increased their target price on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Mizuho increased their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Stifel Nicolaus increased their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Guggenheim reissued a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $234.29.

Zscaler Stock Performance

NASDAQ:ZS opened at $208.76 on Thursday. The firm has a market cap of $32.03 billion, a P/E ratio of -835.04 and a beta of 0.89. Zscaler has a 52 week low of $153.45 and a 52 week high of $217.84. The firm’s fifty day moving average is $196.30 and its 200-day moving average is $191.65.

Insider Buying and Selling

In other news, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Large investors have recently modified their holdings of the business. Global X Japan Co. Ltd. increased its stake in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Zscaler in the fourth quarter worth about $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler in the fourth quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new position in shares of Zscaler in the fourth quarter worth about $29,000. Finally, Elequin Capital LP bought a new position in shares of Zscaler in the fourth quarter valued at approximately $30,000. 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.