UBS Group Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its price target raised by equities research analysts at UBS Group from $250.00 to $260.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 24.54% from the company’s current price.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group lifted their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday. Mizuho lifted 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.29.

Zscaler Stock Up 3.3 %

ZS opened at $208.76 on Thursday. The company has a 50-day simple moving average of $196.30 and a 200 day simple moving average of $191.65. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84. The stock has a market capitalization of $32.03 billion, a price-to-earnings ratio of -835.04 and a beta of 0.89.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock valued at $2,052,879 over the last quarter. 18.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently modified their holdings of the stock. Global X Japan Co. Ltd. increased its holdings in shares of Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Zscaler during the fourth quarter valued at $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler during the fourth quarter valued at $28,000. Stonebridge Financial Group LLC bought a new stake in Zscaler in the 4th quarter worth about $29,000. Finally, Elequin Capital LP bought a new stake in Zscaler in the 4th quarter worth 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.