Zscaler (NASDAQ:ZS) Upgraded at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Zscaler (NASDAQ:ZS) from a neutral rating to a buy rating in a research note issued to investors on Thursday, MarketBeat.com reports. Rosenblatt Securities currently has $235.00 price target on the stock, up from their previous price target of $190.00.

A number of other research analysts also recently commented on ZS. Citigroup reaffirmed a “buy” rating and set a $240.00 target price (up previously from $235.00) on shares of Zscaler in a report on Wednesday. Guggenheim reissued a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Susquehanna raised their price target on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their price target on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Finally, Piper Sandler raised their price target on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.29.

Zscaler Stock Up 3.3 %

NASDAQ:ZS opened at $208.76 on Thursday. The business’s 50 day moving average is $196.78 and its two-hundred day moving average is $191.70. Zscaler has a 52 week low of $153.45 and a 52 week high of $217.84. The company has a market cap of $32.03 billion, a PE ratio of -835.04 and a beta of 0.89.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

Several large investors have recently modified their holdings of ZS. Global X Japan Co. Ltd. boosted 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 worth $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Zscaler during the 4th quarter worth $27,000. Colonial Trust Co SC acquired a new stake in shares of Zscaler in the fourth quarter worth $28,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the fourth quarter worth $29,000. Finally, Elequin Capital LP acquired a new stake in shares of Zscaler in the fourth quarter worth $30,000. 46.45% of the stock is 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.