Zscaler (NASDAQ:ZS) Stock Rating Upgraded by BNP Paribas

Zscaler (NASDAQ:ZS - Get Free Report) was upgraded by analysts at BNP Paribas from a "neutral" rating to an "outperform" rating in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $260.00 price target on the stock. BNP Paribas' price objective points to a potential upside of 20.60% from the stock's previous close.

Several other equities analysts have also issued reports on the company. Morgan Stanley cut 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. Sanford C. Bernstein reissued an "outperform" rating and issued a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. Robert W. Baird raised their price objective on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Cantor Fitzgerald upgraded shares of Zscaler from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $220.00 to $250.00 in a research note on Thursday, April 3rd. Finally, Roth Capital initiated coverage on shares of Zscaler in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and an average target price of $236.66.

Zscaler Price Performance

Zscaler stock opened at $215.58 on Monday. The stock has a market cap of $33.36 billion, a P/E ratio of -862.32 and a beta of 1.12. Zscaler has a 1 year low of $153.45 and a 1 year high of $219.02. The firm's 50 day moving average price is $199.30 and its 200-day moving average price is $197.39.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the 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 completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,234 shares of company stock valued at $42,030,790 in the last 90 days. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC boosted its position in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after acquiring an additional 94 shares during the last quarter. Global X Japan Co. Ltd. boosted its holdings in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Goodman Advisory Group LLC bought a new position in Zscaler in the first quarter valued at $29,000. Summit Securities Group LLC acquired a new stake in Zscaler in the 4th quarter valued at $27,000. Finally, CVA Family Office LLC lifted its position in Zscaler by 120.3% during the 1st quarter. CVA Family Office LLC now owns 152 shares of the company's stock worth $30,000 after buying an additional 83 shares in the last quarter. Institutional investors and hedge funds 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.

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