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

Zscaler, Inc. (NASDAQ:ZS) has been given a consensus rating of “Moderate Buy” by the thirty-three research firms that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $234.94.

A number of brokerages have issued reports on ZS. Sanford C. Bernstein reissued an “outperform” rating and issued a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. Scotiabank restated a “sector outperform” rating and set a $242.00 price target (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Wedbush lifted their target price on shares of Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Cantor Fitzgerald raised shares of Zscaler from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $220.00 to $250.00 in a research note on Thursday, April 3rd. Finally, Jefferies Financial Group reduced their price target on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, March 31st.

Zscaler Stock Up 14.2 %

Shares of NASDAQ ZS opened at $202.12 on Thursday. The business’s 50 day moving average price is $201.09 and its 200 day moving average price is $194.98. The firm has a market cap of $31.27 billion, a P/E ratio of -808.48 and a beta of 1.12. Zscaler has a 52 week low of $153.45 and a 52 week high of $217.84.

Insider Buying and Selling

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now directly owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,234 shares of company stock valued at $42,030,790. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock valued at $298,710,000 after purchasing an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings 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 last quarter. AQR Capital Management LLC raised its holdings in shares of Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after purchasing an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS raised its holdings in shares of Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after purchasing an additional 267,162 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.