Zscaler, Inc. (NASDAQ:ZS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Zscaler, Inc. (NASDAQ:ZS) have been given a consensus recommendation of “Moderate Buy” by the thirty-four analysts that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and twenty-six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $240.09.

Several analysts have issued reports on ZS shares. Morgan Stanley lowered their target price on shares of Zscaler from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group dropped their price objective on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 price objective on shares of Zscaler in a report on Tuesday, April 15th. BMO Capital Markets lifted their price objective on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $244.00 price objective on shares of Zscaler in a report on Thursday, March 6th.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Syam Nair sold 28,947 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the transaction, the insider now owns 110,566 shares in the company, valued at $27,641,500. This represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,771 shares of company stock worth $50,165,040. 18.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global X Japan Co. Ltd. boosted its stake in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. ORG Partners LLC boosted its stake in Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock worth $26,000 after acquiring an additional 94 shares in the last quarter. SVB Wealth LLC bought a new stake in Zscaler during the first quarter worth about $26,000. Summit Securities Group LLC bought a new stake in Zscaler during the fourth quarter worth about $27,000. Finally, Colonial Trust Co SC bought a new stake in Zscaler during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS opened at $257.30 on Friday. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.40. The stock has a market capitalization of $39.81 billion, a PE ratio of -1,029.20 and a beta of 1.14. The company’s 50 day simple moving average is $217.66 and its two-hundred day simple moving average is $205.21.

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.