Stifel Nicolaus Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its target price hoisted by Stifel Nicolaus from $235.00 to $270.00 in a report issued on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada raised their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Roth Capital began coverage on shares of Zscaler in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Zscaler in a research report on Tuesday, April 15th. Finally, UBS Group increased their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $238.53.

Zscaler Stock Performance

NASDAQ ZS opened at $251.50 on Friday. Zscaler has a one year low of $153.45 and a one year high of $253.59. The company’s 50 day moving average price is $210.17 and its 200 day moving average price is $201.98. The firm has a market capitalization of $38.91 billion, a price-to-earnings ratio of -1,006.00 and a beta of 1.14.

Insiders Place Their Bets

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 over the last 90 days. 18.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently added to or reduced their stakes in the stock. Zweig DiMenna Associates LLC raised its stake in shares of Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after purchasing an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft raised its stake in shares of Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock valued at $1,515,000 after purchasing an additional 1,952 shares in the last quarter. SYM FINANCIAL Corp bought a new stake in shares of Zscaler during the fourth quarter valued at about $303,000. Merit Financial Group LLC bought a new stake in shares of Zscaler during the fourth quarter valued at about $787,000. Finally, Kera Capital Partners Inc. bought a new stake in shares of Zscaler during the fourth quarter valued at about $1,869,000. 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.