BMO Capital Markets Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its price objective increased by equities research analysts at BMO Capital Markets from $222.00 to $233.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 11.61% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Loop Capital decreased their price target on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research report on Tuesday, December 3rd. KeyCorp lifted their price target on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Barclays restated an “overweight” rating on shares of Zscaler in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $234.29.

Zscaler Stock Performance

Zscaler stock opened at $208.76 on Thursday. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of -835.04 and a beta of 0.89. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The firm’s 50 day moving average price is $196.30 and its two-hundred day moving average price is $191.65.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares of the company’s stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,248 shares of company stock valued at $2,052,879. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZS. Global X Japan Co. Ltd. lifted its position in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Zscaler during the 4th quarter worth about $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler during the 4th quarter worth about $28,000. Stonebridge Financial Group LLC bought a new position in shares of Zscaler during the 4th quarter worth about $29,000. Finally, Elequin Capital LP bought a new position in shares of Zscaler during the 4th quarter worth about $30,000. 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.