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

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirty-four ratings firms that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $238.53.

Several research analysts have commented on the company. BTIG Research set a $252.00 price target on Zscaler and gave the stock a "buy" rating in a research report on Thursday, March 6th. Stephens assumed coverage on shares of Zscaler in a report on Tuesday, April 1st. They issued an "overweight" rating and a $255.00 target price on the stock. Jefferies Financial Group decreased their price target on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Barclays reissued an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada upped their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the transaction, the insider now directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. This represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock worth $50,165,040 in the last three months. Corporate insiders own 18.10% of the company's stock.

Institutional Trading of Zscaler

A number of hedge funds have recently bought and sold shares of the company. Quintet Private Bank Europe S.A. grew its holdings in Zscaler by 4.7% in the first quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock valued at $222,000 after purchasing an additional 50 shares during the period. Corebridge Financial Inc. boosted its holdings 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 last quarter. Erste Asset Management GmbH grew its stake in shares of Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after buying an additional 56 shares during the period. Ironwood Investment Management LLC grew its stake in shares of Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after buying an additional 64 shares during the period. Finally, Cerity Partners LLC increased its holdings in shares of Zscaler by 0.3% during the 1st quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock worth $4,549,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Price Performance

NASDAQ:ZS opened at $252.82 on Friday. Zscaler has a 12 month low of $153.45 and a 12 month high of $254.59. The firm has a market capitalization of $39.12 billion, a PE ratio of -1,011.28 and a beta of 1.14. The business's fifty day moving average price is $214.53 and its 200 day moving average price is $203.84.

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.

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