Analysts Set Zscaler, Inc. (NASDAQ:ZS) PT at $234.16

Shares of Zscaler, Inc. (NASDAQ:ZS) have earned an average rating of “Moderate Buy” from the thirty-four ratings firms that are presently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $236.66.

A number of equities research analysts recently weighed in on ZS shares. JPMorgan Chase & Co. lifted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Roth Capital assumed coverage on shares of Zscaler in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price target for the company. UBS Group raised their price objective on Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. BMO Capital Markets increased their price target on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Scotiabank restated a “sector outperform” rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was 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. This represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of 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. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 in the last quarter. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Zscaler in the 3rd quarter worth $38,000. Tidal Investments LLC boosted its holdings in Zscaler by 278.9% during the third quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock worth $5,829,000 after buying an additional 25,099 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Zscaler by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock valued at $81,000 after acquiring an additional 70 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Zscaler in the 4th quarter valued at approximately $36,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $226.17 on Monday. The firm has a market capitalization of $34.99 billion, a PE ratio of -904.68 and a beta of 1.12. The business has a 50 day simple moving average of $200.30 and a two-hundred day simple moving average of $197.92. Zscaler has a 1 year low of $153.45 and a 1 year high of $226.60.

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.