Brokerages Set Zscaler, Inc. (NASDAQ:ZS) Target Price at $234.29

Shares of Zscaler, Inc. (NASDAQ:ZS) have been assigned an average recommendation of “Moderate Buy” from the thirty-four brokerages that are covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $233.88.

A number of research firms recently issued reports on ZS. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company increased their price objective on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Mizuho increased their price objective on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Robert W. Baird increased their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This represents a 2.51 % 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. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of institutional investors have recently modified their holdings of the business. Siemens Fonds Invest GmbH acquired a new position in shares of Zscaler during the 4th quarter worth $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Zscaler during the 4th quarter worth $28,802,000. Brooklyn FI LLC acquired a new position in shares of Zscaler during the 4th quarter worth $1,957,000. Azzad Asset Management Inc. ADV raised its holdings in shares of Zscaler by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company’s stock worth $3,390,000 after buying an additional 85 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new position in shares of Zscaler during the 4th quarter worth $209,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

NASDAQ:ZS opened at $199.36 on Friday. The company has a market cap of $30.59 billion, a PE ratio of -797.44 and a beta of 0.88. Zscaler has a 52-week low of $153.45 and a 52-week high of $217.84. The stock has a 50-day simple moving average of $197.39 and a 200 day simple moving average of $191.62.

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.