Zscaler (NASDAQ:ZS) Given New $250.00 Price Target at Mizuho

Zscaler (NASDAQ:ZS) had its price target lifted by Mizuho from $220.00 to $250.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. BMO Capital Markets raised their price objective on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Rosenblatt Securities reissued a “buy” rating and issued a $235.00 target price on shares of Zscaler in a research note on Tuesday, April 15th. Bank of America raised Zscaler from a “neutral” rating to a “buy” rating and raised their price target for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. Finally, Robert W. Baird increased their target price on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $237.44.

Zscaler Trading Up 0.6%

NASDAQ:ZS opened at $245.92 on Thursday. Zscaler has a 1-year low of $153.45 and a 1-year high of $247.28. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of -983.68 and a beta of 1.14. The business’s 50-day moving average price is $209.13 and its two-hundred day moving average price is $201.55.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Schlossman sold 2,878 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now directly owns 107,587 shares of the company’s stock, valued at $21,425,951.05. This trade represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock valued at $42,030,790 in the last ninety days. 18.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Zscaler by 3.1% in the first 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. increased its position in Zscaler by 23.4% in the 1st 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 during the period. T. Rowe Price Investment Management Inc. acquired a new position in Zscaler in the 1st quarter valued at approximately $516,622,000. Geode Capital Management LLC raised its stake 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 valued at $298,710,000 after acquiring an additional 32,545 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares during the period. Institutional investors 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.