Zscaler (NASDAQ:ZS) Price Target Raised to $270.00 at Stifel Nicolaus

Zscaler (NASDAQ:ZS) had its price target hoisted by Stifel Nicolaus from $235.00 to $270.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Wedbush upped their price target on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Scotiabank reaffirmed a “sector outperform” rating and issued a $242.00 price target (up previously from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. Finally, BMO Capital Markets lifted their price objective on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Eight investment 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.53.

Zscaler Stock Performance

NASDAQ ZS opened at $251.50 on Friday. The stock has a market capitalization of $38.91 billion, a P/E ratio of -1,006.00 and a beta of 1.14. Zscaler has a 1 year low of $153.45 and a 1 year high of $253.59. The business’s fifty day moving average is $210.17 and its two-hundred day moving average is $202.23.

Insider Activity

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $2,060,000.00. Following the completion of 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. Insiders have sold a total of 209,234 shares of company stock worth $42,030,790 in the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently modified their holdings of the business. Global X Japan Co. Ltd. lifted its position in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. ORG Partners LLC lifted 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. SVB Wealth LLC acquired a new position in Zscaler during the 1st quarter worth $26,000. Summit Securities Group LLC acquired a new position in Zscaler during the 4th quarter worth $27,000. Finally, Colonial Trust Co SC acquired a new position in Zscaler during the 4th quarter worth $28,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.