Zscaler’s (ZS) Buy Rating Reiterated at Rosenblatt Securities

Zscaler (NASDAQ:ZS)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $235.00 target price on the stock. Rosenblatt Securities’ target price points to a potential upside of 17.83% from the stock’s current price.

Several other research firms have also commented on ZS. Wedbush upped their target price on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Cantor Fitzgerald raised shares of Zscaler from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $220.00 to $250.00 in a report on Thursday, April 3rd. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the company a “neutral” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, Jefferies Financial Group decreased their price objective on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 31st. 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 data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $234.94.

Zscaler Stock Performance

Shares of 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’s fifty day moving average is $200.77 and its two-hundred day moving average is $195.68. The stock has a market capitalization of $30.86 billion, a price-to-earnings ratio of -797.76 and a beta of 1.12.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now directly owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

Several large investors have recently made changes to their positions in ZS. GAMMA Investing LLC boosted its position in Zscaler by 43.1% during the first quarter. GAMMA Investing LLC now owns 641 shares of the company’s stock worth $127,000 after purchasing an additional 193 shares during the period. Pallas Capital Advisors LLC grew its position in Zscaler by 85.9% during the first quarter. Pallas Capital Advisors LLC now owns 8,347 shares of the company’s stock worth $1,656,000 after buying an additional 3,856 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Zscaler by 161.0% during the first quarter. Farther Finance Advisors LLC now owns 890 shares of the company’s stock valued at $179,000 after acquiring an additional 549 shares during the period. Wedmont Private Capital bought a new stake in shares of Zscaler in the 1st quarter worth approximately $418,000. Finally, Intellectus Partners LLC acquired a new stake in shares of Zscaler during the 1st quarter worth approximately $201,000. Institutional investors own 46.45% of the company’s stock.

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.