Zscaler (NASDAQ:ZS) Price Target Raised to $240.00

Zscaler (NASDAQ:ZS) had its target price raised by Wedbush from $230.00 to $240.00 in a research report sent to investors on Thursday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a report on Monday, November 18th. BMO Capital Markets lifted their price objective on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group lifted their price objective on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. KeyCorp lifted their price objective on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Barclays reaffirmed an “overweight” rating on shares of Zscaler in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.29.

Zscaler Stock Performance

ZS opened at $208.76 on Thursday. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The company has a fifty day moving average of $196.78 and a two-hundred day moving average of $191.70. 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 at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,863 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 value of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Syam Nair sold 3,682 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 $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 in the last ninety days. 18.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Zscaler

A number of institutional investors and hedge funds have recently made changes to their positions in ZS. Fred Alger Management LLC increased its stake in Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after buying an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after buying an additional 37,801 shares during the period. Zweig DiMenna Associates LLC increased its stake in Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after buying an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft increased its stake in Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after buying an additional 1,952 shares during the period. Finally, Van ECK Associates Corp increased its stake in Zscaler by 1,786.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after buying an additional 14,274 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.