BMO Capital Markets Raises Zscaler (NASDAQ:ZS) Price Target to $233.00

Zscaler (NASDAQ:ZS - Free Report) had its price objective boosted by BMO Capital Markets from $222.00 to $233.00 in a research note issued to investors on Thursday, MarketBeat reports. BMO Capital Markets currently has an outperform rating on the stock.

ZS has been the topic of several other research reports. Robert W. Baird boosted their price target on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday. Scotiabank reaffirmed a "sector outperform" rating and set a $242.00 price target (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. KeyCorp upped their target price on shares of Zscaler from $245.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Finally, BTIG Research lifted their price target on Zscaler from $205.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $233.88.

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Zscaler Trading Down 6.7 %

Shares of NASDAQ ZS traded down $14.07 during mid-day trading on Thursday, hitting $194.69. The company had a trading volume of 3,055,182 shares, compared to its average volume of 1,868,916. The firm has a 50-day simple moving average of $197.02 and a two-hundred day simple moving average of $191.62. The company has a market capitalization of $29.87 billion, a PE ratio of -778.76 and a beta of 0.88. Zscaler has a one year low of $153.45 and a one year high of $217.84.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares of the company's stock, valued at $71,828,542.08. This represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value 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. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 over the last ninety days. 18.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZS. Siemens Fonds Invest GmbH bought a new position in Zscaler during the 4th quarter worth $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Zscaler during the fourth quarter worth about $28,802,000. Brooklyn FI LLC acquired a new position in shares of Zscaler in the fourth quarter worth approximately $1,957,000. Azzad Asset Management Inc. ADV boosted its holdings in Zscaler by 0.5% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company's stock valued at $3,390,000 after acquiring an additional 85 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new stake in Zscaler during the 4th quarter valued at approximately $209,000. Institutional investors own 46.45% of the company's stock.

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.