Zscaler (NASDAQ:ZS) Price Target Raised to $275.00 at Cantor Fitzgerald

Zscaler (NASDAQ:ZS) had its target price raised by investment analysts at Cantor Fitzgerald from $250.00 to $275.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 6.14% from the company’s previous close.

Several other brokerages have also issued reports on ZS. Citigroup restated a “buy” rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Mizuho upped their price objective on shares of Zscaler from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. BTIG Research set a $252.00 target price on shares of Zscaler and gave the company a “buy” rating in a report on Thursday, March 6th. Stifel Nicolaus upped their price target on Zscaler from $235.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $240.09.

Zscaler Price Performance

Shares of ZS stock traded up $5.00 during trading on Tuesday, hitting $259.10. 242,917 shares of the stock traded hands, compared to its average volume of 2,051,955. Zscaler has a 52-week low of $153.45 and a 52-week high of $260.01. The firm has a market capitalization of $40.09 billion, a P/E ratio of -1,035.36 and a beta of 1.14. The firm’s fifty day moving average price is $216.59 and its 200-day moving average price is $204.85.

Insider Buying and Selling

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,771 shares of company stock valued at $50,165,040. 18.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Zscaler by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company’s stock valued at $1,962,474,000 after buying an additional 294,034 shares during the period. Goldman Sachs Group Inc. grew its position in Zscaler by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock valued at $604,831,000 after acquiring an additional 578,883 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Zscaler in the first quarter valued at approximately $516,622,000. Geode Capital Management LLC lifted its position in shares of Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after purchasing an additional 32,545 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after purchasing an additional 332,307 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.