Zscaler (NASDAQ:ZS) Raised to Strong-Buy at Stephens

Zscaler (NASDAQ:ZS - Get Free Report) was upgraded by equities research analysts at Stephens to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Mizuho increased their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $240.00 target price on shares of Zscaler in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Royal Bank of Canada raised their price objective on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Finally, Robert W. Baird boosted their price objective on Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $234.94.

Zscaler Stock Performance

Shares of ZS traded down $14.83 during mid-day trading on Monday, hitting $192.21. 3,897,122 shares of the company traded hands, compared to its average volume of 1,915,071. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of -768.84 and a beta of 1.12. The stock has a 50-day moving average price of $202.76 and a two-hundred day moving average price of $194.41. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84.

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Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares of the company's stock, valued at approximately $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock valued at $42,030,790 in the last three months. Corporate insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds have recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. increased its stake in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares during the period. Summit Securities Group LLC bought a new position in shares of Zscaler in the fourth quarter worth about $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler in the fourth quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new position in Zscaler in the 4th quarter worth about $29,000. Finally, Elequin Capital LP bought a new stake in Zscaler during the 4th quarter valued at about $30,000. 46.45% of the stock is currently owned by 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.