Zscaler (NASDAQ:ZS) Price Target Raised to $250.00

Zscaler (NASDAQ:ZS - Get Free Report) had its target price upped by stock analysts at Royal Bank of Canada from $230.00 to $250.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's target price points to a potential upside of 19.75% from the company's previous close.

Other equities research analysts have also issued research reports about the company. 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 note on Thursday. KeyCorp increased their price target on Zscaler from $245.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Piper Sandler increased their price target on Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Robert W. Baird increased their price target on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Oppenheimer increased their price target on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.29.

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Zscaler Stock Up 3.3 %

ZS stock traded up $6.60 during trading on Thursday, reaching $208.76. The company's stock had a trading volume of 4,342,779 shares, compared to its average volume of 1,868,072. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The company has a market capitalization of $32.03 billion, a P/E ratio of -835.04 and a beta of 0.89. The company's fifty day moving average is $196.30 and its 200-day moving average is $191.65.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares of the company's stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock valued at $2,052,879 over the last ninety days. 18.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

Several institutional investors and hedge funds have recently bought and sold shares of ZS. AQR Capital Management LLC grew its holdings in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Natixis purchased a new position in Zscaler in the fourth quarter worth $87,775,000. Greenvale Capital LLP purchased a new position in Zscaler in the fourth quarter worth $72,164,000. Pictet Asset Management Holding SA grew its holdings in Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after purchasing an additional 332,307 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock worth $220,401,000 after purchasing an additional 283,540 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.