Jefferies Financial Group Lowers Zscaler (NASDAQ:ZS) Price Target to $240.00

Zscaler (NASDAQ:ZS) had its target price cut by investment analysts at Jefferies Financial Group from $245.00 to $240.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 21.13% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ZS. BMO Capital Markets raised their price target on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Susquehanna lifted their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. Loop Capital cut their price objective on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research note on Tuesday, December 3rd. KeyCorp lifted their target price on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their price objective on Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $232.52.

Zscaler Stock Performance

Zscaler stock traded down $9.01 during mid-day trading on Monday, hitting $198.14. 2,205,243 shares of the company traded hands, compared to its average volume of 1,898,510. The stock has a fifty day moving average price of $202.08 and a 200-day moving average price of $193.89. The stock has a market cap of $30.66 billion, a price-to-earnings ratio of -794.10 and a beta of 0.88. Zscaler has a one year low of $153.45 and a one year high of $217.84.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated 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 completion of the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 199,234 shares of company stock valued at $39,970,790. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. increased its holdings in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the period. Summit Securities Group LLC purchased a new position in shares of Zscaler during the fourth quarter worth $27,000. Colonial Trust Co SC acquired a new position in Zscaler during the fourth quarter valued at $28,000. Stonebridge Financial Group LLC purchased a new stake in Zscaler in the fourth quarter valued at $29,000. Finally, Elequin Capital LP purchased a new position in shares of Zscaler during the 4th quarter valued at about $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.