Zscaler, Inc. (NASDAQ:ZS) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Zscaler, Inc. (NASDAQ:ZS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirty-three analysts that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $234.94.

A number of research analysts recently issued reports on ZS shares. Bank of America upgraded shares of Zscaler from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $215.00 to $240.00 in a report on Friday, March 7th. BTIG Research set a $252.00 price target on shares of Zscaler and gave the company a "buy" rating in a report on Thursday, March 6th. Rosenblatt Securities upgraded Zscaler from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $190.00 to $235.00 in a report on Thursday, March 6th. Scotiabank restated a "sector outperform" rating and issued a $242.00 price target (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, BMO Capital Markets lifted their price objective on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a report on Thursday, March 6th.

Zscaler Price Performance

Shares of Zscaler stock traded up $5.38 during trading on Thursday, hitting $180.05. 5,735,454 shares of the company were exchanged, compared to its average volume of 1,943,671. The firm has a market capitalization of $27.86 billion, a P/E ratio of -720.20 and a beta of 1.12. The firm's fifty day moving average price is $202.16 and its 200 day moving average price is $194.83. Zscaler has a 1-year low of $153.45 and a 1-year high of $217.84.

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Insider Activity

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the sale, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. 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 over the last three months. Insiders own 18.10% of the company's stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently made changes to their positions in ZS. GAMMA Investing LLC raised its stake in Zscaler by 28,290.0% in the first quarter. GAMMA Investing LLC now owns 127,187 shares of the company's stock valued at $25,236,000 after purchasing an additional 126,739 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Zscaler by 297.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 183 shares of the company's stock valued at $36,000 after buying an additional 137 shares during the period. California State Teachers Retirement System raised its position in shares of Zscaler by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 123,466 shares of the company's stock valued at $22,275,000 after buying an additional 670 shares in the last quarter. 111 Capital bought a new stake in shares of Zscaler during the 4th quarter worth approximately $643,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Zscaler by 97.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,694 shares of the company's stock worth $4,094,000 after acquiring an additional 11,179 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.