Zscaler, Inc. (NASDAQ:ZS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirty-four analysts that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $236.66.

Several research firms have recently issued reports on ZS. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the company a "neutral" rating in a research note on Thursday, March 6th. Scotiabank restated a "sector outperform" rating and set a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Morgan Stanley reduced their target price on Zscaler from $205.00 to $200.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Stephens initiated coverage on shares of Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 price target on the stock. Finally, BNP Paribas upgraded shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target on the stock in a report on Monday.

Zscaler Stock Up 1.7 %

Zscaler stock traded up $3.93 during midday trading on Monday, reaching $230.10. 1,828,621 shares of the stock traded hands, compared to its average volume of 2,002,657. The stock's fifty day moving average is $200.30 and its 200-day moving average is $197.92. Zscaler has a 12 month low of $153.45 and a 12 month high of $230.70. The stock has a market cap of $35.60 billion, a P/E ratio of -921.12 and a beta of 1.12.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock valued at $42,030,790 in the last 90 days. Company insiders own 18.10% of the company's stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. lifted its holdings in Zscaler by 4.7% during the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock worth $222,000 after buying an additional 50 shares in the last quarter. Corebridge Financial Inc. boosted its position in shares of Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after purchasing an additional 54 shares during the period. Erste Asset Management GmbH boosted its position in shares of Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after purchasing an additional 56 shares during the period. KRS Capital Management LLC lifted its position 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 acquiring an additional 60 shares during the period. Finally, Ironwood Investment Management LLC lifted its position in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after acquiring an additional 64 shares during the period. 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.