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

Zscaler, Inc. (NASDAQ:ZS) has been assigned an average recommendation of “Moderate Buy” from the thirty-three brokerages that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $234.29.

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and set a $240.00 target price (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Susquehanna increased their price target on Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research report on Tuesday, December 3rd. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday.

Insider Buying and Selling

In other Zscaler news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. 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 quarter. 18.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently bought and sold shares of ZS. AQR Capital Management LLC boosted its stake in shares of Zscaler by 120.1% during the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after acquiring an additional 525,956 shares in the last quarter. Natixis acquired a new position in Zscaler during the fourth quarter worth $87,775,000. Greenvale Capital LLP purchased a new stake in Zscaler during 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 valued at $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 valued at $220,401,000 after purchasing an additional 283,540 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

Shares of ZS opened at $208.76 on Friday. The company’s 50-day simple moving average is $196.78 and its 200-day simple moving average is $191.70. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The stock has a market capitalization of $32.03 billion, a PE ratio of -835.04 and a beta of 0.89.

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.