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

Zscaler (NASDAQ:ZS - Free Report) had its price objective reduced by Jefferies Financial Group from $245.00 to $240.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on ZS. UBS Group raised their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Mizuho boosted their target price on Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. BMO Capital Markets raised their price target on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Royal Bank of Canada upped their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Finally, Oppenheimer raised their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler presently has a consensus rating of "Moderate Buy" and an average price target of $232.35.

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Zscaler Stock Up 2.0 %

NASDAQ:ZS traded up $4.02 during mid-day trading on Monday, reaching $205.09. 500,523 shares of the company were exchanged, compared to its average volume of 1,900,383. The stock has a market cap of $31.73 billion, a PE ratio of -821.23 and a beta of 0.88. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84. The company has a fifty day moving average of $202.49 and a 200 day moving average of $194.34.

Insiders Place Their Bets

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction on 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 transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Several institutional investors and hedge funds have recently bought and sold shares of ZS. Global X Japan Co. Ltd. boosted its position in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after buying an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new stake in Zscaler during the 4th quarter worth $27,000. Colonial Trust Co SC acquired a new position in Zscaler in the 4th quarter worth about $28,000. Stonebridge Financial Group LLC bought a new position in Zscaler in the fourth quarter valued at about $29,000. Finally, Elequin Capital LP bought a new stake in shares of Zscaler during the fourth quarter worth about $30,000. 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.