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

Shares of Zscaler, Inc. (NASDAQ:ZS - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the thirty-four brokerages that are currently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $234.16.

ZS has been the topic of a number of recent research reports. Wedbush boosted their price objective on Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Cantor Fitzgerald raised shares of Zscaler from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $220.00 to $250.00 in a research report on Thursday, April 3rd. Barclays reaffirmed an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Sanford C. Bernstein restated an "outperform" rating and issued a $244.00 price target on shares of Zscaler in a research note on Thursday, March 6th. Finally, Royal Bank of Canada boosted their price objective on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th.

Insider Transactions at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the company'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 transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on Tuesday, March 18th. The shares were 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 directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,234 shares of company stock valued at $42,030,790. Corporate insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Zscaler

Several institutional investors and hedge funds have recently modified their holdings of ZS. Quintet Private Bank Europe S.A. increased its stake in Zscaler by 4.7% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock valued at $222,000 after buying an additional 50 shares during the last quarter. Corebridge Financial Inc. boosted its position in Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after purchasing an additional 54 shares during the last quarter. Erste Asset Management GmbH grew its stake in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after purchasing an additional 56 shares in the last quarter. KRS Capital Management LLC increased its position in shares of Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company's stock worth $588,000 after purchasing an additional 60 shares during the last quarter. Finally, Ironwood Investment Management LLC raised its stake in shares of Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after purchasing an additional 64 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Trading Up 2.6 %

ZS stock opened at $215.58 on Monday. The firm has a 50-day moving average of $199.30 and a two-hundred day moving average of $197.39. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84. The company has a market cap of $33.36 billion, a price-to-earnings ratio of -862.32 and a beta of 1.12.

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.

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