Zscaler, Inc. (NASDAQ:ZS) Receives $234.29 Consensus Price Target from Analysts

Shares of Zscaler, Inc. (NASDAQ:ZS) have earned a consensus rating of “Moderate Buy” from the thirty-four research firms that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $233.88.

A number of research firms recently weighed in on ZS. Royal Bank of Canada lifted their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Rosenblatt Securities upgraded Zscaler from a “neutral” rating to a “buy” rating and increased their target price for the stock from $190.00 to $235.00 in a research report on Thursday, March 6th. KeyCorp boosted their price target on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group increased their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd.

Insider Buying and Selling at Zscaler

In related news, insider Syam Nair sold 3,682 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 $737,578.24. Following the transaction, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock worth $2,052,879 over the last 90 days. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ZS. Van ECK Associates Corp lifted its holdings in shares of Zscaler by 1,786.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after buying an additional 14,274 shares during the period. Capital Performance Advisors LLP purchased a new stake in Zscaler in the third quarter worth about $97,000. SpiderRock Advisors LLC grew its holdings in Zscaler by 1,396.2% during the 3rd quarter. SpiderRock Advisors LLC now owns 17,146 shares of the company’s stock worth $2,931,000 after acquiring an additional 16,000 shares in the last quarter. Executive Wealth Management LLC purchased a new position in Zscaler during the 3rd quarter valued at about $280,000. Finally, Objective Capital Management LLC purchased a new position in Zscaler during the 3rd quarter valued at about $203,000. Institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $189.58 on Friday. The company has a market capitalization of $29.33 billion, a P/E ratio of -758.32 and a beta of 0.88. Zscaler has a 1-year low of $153.45 and a 1-year high of $217.84. The firm’s 50 day simple moving average is $197.74 and its two-hundred day simple moving average is $191.66.

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.