Analysts Set Zscaler, Inc. (NASDAQ:ZS) Price Target at $234.29

by · The Markets Daily

Shares of Zscaler, Inc. (NASDAQ:ZS – Get Free Report) have been given an average recommendation of “Moderate Buy” by the thirty-four ratings firms that are presently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $233.88.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Citigroup reissued a “buy” rating and set a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and issued a $240.00 target price (down previously from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Jefferies Financial Group upped their price target on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley dropped their price target on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 3rd.

Read Our Latest Analysis on ZS

Insider Activity at Zscaler

In other Zscaler news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock worth $2,052,879 over the last quarter. Company insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently made changes to their positions in the business. Global X Japan Co. Ltd. increased its holdings in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Zscaler during the 4th quarter valued at $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler in the 4th quarter worth $28,000. Stonebridge Financial Group LLC bought a new position in Zscaler in the 4th quarter worth $29,000. Finally, Elequin Capital LP purchased a new position in Zscaler during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Down 4.2 %

Shares of NASDAQ:ZS opened at $189.58 on Friday. The company’s fifty day moving average is $197.74 and its 200 day moving average is $191.66. Zscaler has a 52 week low of $153.45 and a 52 week high of $217.84. The stock has a market cap of $29.33 billion, a PE ratio of -758.32 and a beta of 0.88.

Zscaler Company Profile

(Get Free Report

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.

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