Zscaler (NASDAQ:ZS) Earns Overweight Rating from Stephens

Zscaler (NASDAQ:ZS)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a note issued to investors on Tuesday,Benzinga reports. They presently have a $255.00 target price on the stock. Stephens’ price target points to a potential downside of 1.38% from the stock’s previous close.

ZS has been the topic of several other research reports. Mizuho raised their price objective on Zscaler from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Rosenblatt Securities reissued a “buy” rating and set a $235.00 target price on shares of Zscaler in a research note on Tuesday, April 15th. Robert W. Baird lifted their target price on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the company a “neutral” rating in a research note on Thursday, March 6th. Finally, Citigroup reissued a “buy” rating and set a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.31.

Zscaler Price Performance

Zscaler stock opened at $258.57 on Tuesday. Zscaler has a one year low of $153.45 and a one year high of $260.01. The stock has a market capitalization of $40.01 billion, a PE ratio of -1,032.66 and a beta of 1.14. The business’s fifty day moving average is $216.59 and its 200 day moving average is $204.85.

Insider Activity

In other Zscaler news, insider Robert Schlossman sold 3,590 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $897,500.00. Following the completion of the sale, the insider now owns 100,230 shares of the company’s stock, valued at $25,057,500. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This trade represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,771 shares of company stock worth $50,165,040 over the last quarter. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors have recently modified their holdings of the company. Quintet Private Bank Europe S.A. boosted its holdings in Zscaler by 4.7% in the first quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company’s stock valued at $222,000 after purchasing an additional 50 shares during the period. Corebridge Financial Inc. boosted its holdings in Zscaler by 0.5% in the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after purchasing an additional 54 shares during the period. Erste Asset Management GmbH boosted 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 purchasing an additional 56 shares during the period. Ironwood Investment Management LLC lifted its holdings in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after buying an additional 64 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Zscaler by 0.3% during the 1st quarter. Cerity Partners LLC now owns 22,928 shares of the company’s stock worth $4,549,000 after buying an additional 68 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

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.