Zscaler (NASDAQ:ZS) Price Target Raised to $233.00

Zscaler (NASDAQ:ZS) had its price target lifted by BMO Capital Markets from $222.00 to $233.00 in a research note released on Thursday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently commented on ZS. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a report on Tuesday, December 3rd. Morgan Stanley decreased their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 3rd. Finally, Mizuho boosted their price objective on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.29.

Zscaler Stock Performance

Shares of ZS opened at $208.76 on Thursday. The stock has a 50-day moving average of $196.78 and a two-hundred day moving average of $191.70. Zscaler has a one year low of $153.45 and a one year high of $217.84. The stock has a market cap of $32.03 billion, a P/E ratio of -835.04 and a beta of 0.89.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 3,703 shares of the company’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 $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. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Syam Nair sold 3,682 shares of the company’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 in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

A number of large investors have recently modified their holdings of the stock. Corebridge Financial Inc. increased its position in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after acquiring an additional 54 shares during the period. Erste Asset Management GmbH increased its holdings in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after buying an additional 56 shares during the last quarter. KRS Capital Management LLC increased its holdings in Zscaler by 1.9% in the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after buying an additional 60 shares during the last quarter. Ironwood Investment Management LLC increased its holdings in Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock valued at $1,127,000 after buying an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock valued at $88,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.