Zscaler (NASDAQ:ZS) Receives “Buy” Rating from Rosenblatt Securities

Zscaler (NASDAQ:ZS)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $235.00 price target on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 15.84% from the stock’s current price.

ZS has been the subject of several other research reports. BMO Capital Markets lifted their price objective on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Robert W. Baird boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Wells Fargo & Company raised their price objective on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Mizuho boosted their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised their price target on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.77.

Zscaler Trading Down 0.9 %

Shares of NASDAQ ZS opened at $202.87 on Tuesday. The stock has a fifty day simple moving average of $200.73 and a two-hundred day simple moving average of $195.79. Zscaler has a 1-year low of $153.45 and a 1-year high of $217.84. The firm has a market cap of $31.39 billion, a price-to-earnings ratio of -811.48 and a beta of 1.12.

Insider Buying and Selling

In other news, insider Robert Schlossman sold 2,878 shares of the 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 sale, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now directly owns 27,216 shares in the company, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,234 shares of company stock worth $42,030,790 in the last 90 days. 18.10% of the stock is owned by company insiders.

Institutional Trading of Zscaler

A number of institutional investors have recently modified their holdings of the company. Zweig DiMenna Associates LLC raised its position in Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after purchasing an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft raised its holdings in shares of Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock valued at $1,515,000 after acquiring an additional 1,952 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Zscaler during the fourth quarter valued at approximately $565,000. SYM FINANCIAL Corp purchased a new stake in Zscaler in the fourth quarter worth $303,000. Finally, Merit Financial Group LLC bought a new stake in Zscaler in the fourth quarter valued at $787,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.