Zscaler (NASDAQ:ZS) Earns Buy Rating from Rosenblatt Securities

Zscaler (NASDAQ:ZS - Get Free Report)'s stock had its "buy" rating restated by research analysts at Rosenblatt Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $235.00 target price on the stock. Rosenblatt Securities' price objective would indicate a potential upside of 16.86% from the stock's current price.

Other analysts have also issued research reports about the company. BTIG Research set a $252.00 target price on Zscaler and gave the stock a "buy" rating in a report on Thursday, March 6th. Mizuho raised their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. BMO Capital Markets boosted their target price on shares of Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Scotiabank reissued a "sector outperform" rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their price target on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.77.

Zscaler Stock Down 0.9 %

Shares of ZS stock traded down $1.78 during mid-day trading on Tuesday, reaching $201.09. 1,785,102 shares of the company's stock traded hands, compared to its average volume of 1,980,127. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84. The company has a market cap of $31.11 billion, a P/E ratio of -804.36 and a beta of 1.12. The company's 50-day moving average price is $200.34 and its 200-day moving average price is $196.23.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was 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 in the company, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 in the last 90 days. 18.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Global X Japan Co. Ltd. grew its stake in shares of Zscaler by 127.4% during the 4th 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 during the period. Summit Securities Group LLC acquired a new position in Zscaler during the 4th quarter worth approximately $27,000. CVA Family Office LLC boosted its stake in shares of Zscaler by 120.3% in the first quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after purchasing an additional 83 shares during the period. Colonial Trust Co SC acquired a new stake in shares of Zscaler during the fourth quarter valued at about $28,000. Finally, Stonebridge Financial Group LLC purchased a new position in Zscaler in the fourth quarter valued at about $29,000. Institutional investors and hedge funds 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.