Zscaler (NASDAQ:ZS) Price Target Raised to $210.00

Zscaler (NASDAQ:ZS) had its price objective increased by Wells Fargo & Company from $190.00 to $210.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts also recently commented on ZS. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a research note on Wednesday. BTIG Research raised their price target on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Canaccord Genuity Group raised their price target on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Scotiabank reaffirmed a “sector outperform” rating and issued a $242.00 price target (up previously from $225.00) on shares of Zscaler in a research note on Wednesday. Finally, Piper Sandler raised their price target on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.29.

Zscaler Trading Up 3.3 %

Shares of ZS opened at $208.76 on Thursday. The company has a market cap of $32.03 billion, a P/E ratio of -835.04 and a beta of 0.89. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84. The company’s fifty day simple moving average is $196.78 and its 200-day simple moving average is $191.70.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the business’s 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 sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,248 shares of company stock valued at $2,052,879. Insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Several institutional investors and hedge funds have recently bought and sold shares of the business. Siemens Fonds Invest GmbH acquired a new stake in Zscaler during the 4th quarter valued at approximately $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Zscaler during the 4th quarter valued at approximately $28,802,000. Brooklyn FI LLC acquired a new stake in Zscaler during the 4th quarter valued at approximately $1,957,000. Azzad Asset Management Inc. ADV lifted its stake in Zscaler by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company’s stock valued at $3,390,000 after acquiring an additional 85 shares during the period. Finally, Liberty Square Wealth Partners LLC acquired a new stake in Zscaler during the 4th quarter valued at approximately $209,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.