Zscaler (NASDAQ:ZS) Price Target Cut to $240.00 by Analysts at Jefferies Financial Group

Zscaler (NASDAQ:ZS) had its price target trimmed by Jefferies Financial Group from $245.00 to $240.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on ZS. JMP Securities reissued a “market outperform” rating and issued a $240.00 target price (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Oppenheimer lifted their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Robert W. Baird upped their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Canaccord Genuity Group lifted their target price on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $232.52.

Zscaler Stock Down 4.2 %

Zscaler stock opened at $198.42 on Monday. The company has a market cap of $30.70 billion, a PE ratio of -793.68 and a beta of 0.88. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84. The company’s 50-day moving average price is $202.30 and its 200-day moving average price is $194.12.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 199,234 shares of company stock valued at $39,970,790. Company insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of large investors have recently bought and sold shares of ZS. Fred Alger Management LLC lifted its holdings in Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Zweig DiMenna Associates LLC lifted its stake in Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after buying an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after buying an additional 1,952 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in Zscaler during the 3rd quarter worth approximately $449,000. Institutional investors and hedge funds 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.