Zscaler (NASDAQ:ZS) Given “Buy” Rating at Rosenblatt Securities

Zscaler (NASDAQ:ZS)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a note issued to investors on Tuesday,Benzinga reports. They currently have a $235.00 price target on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 17.83% from the company’s current price.

ZS has been the topic of several other research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $244.00 price target on shares of Zscaler in a research note on Thursday, March 6th. Mizuho upped their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. BMO Capital Markets lifted their price target on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Finally, The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $234.94.

Zscaler Trading Up 0.7 %

NASDAQ ZS opened at $199.44 on Tuesday. Zscaler has a 1-year low of $153.45 and a 1-year high of $217.84. The company has a market capitalization of $30.86 billion, a price-to-earnings ratio of -797.76 and a beta of 1.12. The stock’s 50 day moving average is $200.77 and its two-hundred day moving average is $195.68.

Insider Activity at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction 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 transaction, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Zscaler

Several institutional investors and hedge funds have recently modified their holdings of ZS. Corebridge Financial Inc. increased its position in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after acquiring an additional 54 shares in the last quarter. Erste Asset Management GmbH boosted its stake in Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after purchasing an additional 56 shares during the period. KRS Capital Management LLC increased its holdings in Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after purchasing an additional 60 shares in the last quarter. Ironwood Investment Management LLC raised its stake in shares of Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock valued at $1,127,000 after purchasing an additional 64 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock valued at $88,000 after purchasing an additional 69 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.