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

Shares of Zscaler, Inc. (NASDAQ:ZS) have earned an average recommendation of “Moderate Buy” from the thirty-four research firms that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $233.88.

Several analysts have issued reports on ZS shares. Susquehanna increased their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Robert W. Baird increased their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, UBS Group increased their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Remo Canessa sold 3,703 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 transaction of $741,784.96. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,248 shares of company stock valued at $2,052,879. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors 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 valued at $25,000 after acquiring an additional 79 shares during the period. Summit Securities Group LLC purchased a new position in Zscaler during the 4th quarter valued at about $27,000. Colonial Trust Co SC purchased a new position in Zscaler during the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC purchased a new position in Zscaler during the 4th quarter valued at about $29,000. Finally, Elequin Capital LP purchased a new position in Zscaler during the 4th quarter valued at about $30,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Up 4.3 %

Shares of ZS stock opened at $197.81 on Friday. The stock has a market capitalization of $30.61 billion, a P/E ratio of -791.24 and a beta of 0.88. The firm’s 50 day moving average is $198.14 and its 200 day moving average is $191.61. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84.

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.