Analysts Set Zscaler, Inc. (NASDAQ:ZS) PT at $234.29

Zscaler, Inc. (NASDAQ:ZS) has received an average recommendation of “Moderate Buy” from the thirty-four research firms that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $233.88.

Several research firms have recently issued reports on ZS. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Oppenheimer lifted their target price on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein reissued an “outperform” rating on shares of Zscaler in a research note on Thursday, March 6th. Finally, Loop Capital lowered their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research note on Tuesday, December 3rd.

Zscaler Stock Performance

ZS stock opened at $197.81 on Friday. The company has a fifty day moving average price of $198.14 and a 200-day moving average price of $191.61. The company has a market capitalization of $30.61 billion, a P/E ratio of -791.24 and a beta of 0.88. Zscaler has a 52-week low of $153.45 and a 52-week high of $217.84.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This represents a 0.79 % 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. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZS. Global X Japan Co. Ltd. grew its position in shares of 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 stake in shares of Zscaler during the 4th quarter valued at approximately $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler during the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler during the 4th quarter valued at approximately $29,000. Finally, Elequin Capital LP purchased a new stake in shares of Zscaler during the 4th quarter valued at approximately $30,000. 46.45% of the stock is owned by institutional investors.

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.