Zscaler (NASDAQ:ZS) Stock Rating Upgraded by JPMorgan Chase & Co.

Zscaler (NASDAQ:ZS) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The brokerage presently has a $230.00 price objective on the stock, up from their previous price objective of $205.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 24.85% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a report on Friday, May 31st. Scotiabank reduced their price target on shares of Zscaler from $250.00 to $210.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 31st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $182.00 price objective (down previously from $275.00) on shares of Zscaler in a research report on Tuesday, May 28th. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a report on Tuesday, May 28th. Finally, BMO Capital Markets lowered their target price on Zscaler from $255.00 to $192.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.21.

Zscaler Price Performance

ZS stock opened at $184.22 on Friday. The company has a market capitalization of $27.84 billion, a PE ratio of -361.22 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $176.12 and its two-hundred day moving average is $203.90. Zscaler has a 52-week low of $131.59 and a 52-week high of $259.61.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Remo Canessa sold 7,707 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the sale, the chief financial officer now directly owns 255,943 shares in the company, valued at $49,435,390.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,715 shares of company stock valued at $2,455,902. Insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Several large investors have recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in Zscaler in the 4th quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new position in Zscaler during the 4th quarter valued at $37,000. Parkside Financial Bank & Trust boosted its holdings in Zscaler by 582.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock valued at $35,000 after purchasing an additional 134 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Zscaler by 109.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after buying an additional 109 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

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.