Zscaler (NASDAQ:ZS) Reaches New 12-Month High After Analyst Upgrade

Zscaler, Inc. (NASDAQ:ZS) shares hit a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from $235.00 to $270.00. Stifel Nicolaus currently has a buy rating on the stock. Zscaler traded as high as $253.72 and last traded at $252.63, with a volume of 1042737 shares trading hands. The stock had previously closed at $251.50.

Other equities analysts also recently issued research reports about the company. BNP Paribas raised Zscaler from a “neutral” rating to an “outperform” rating and set a $260.00 price target on the stock in a research report on Monday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research note on Wednesday, March 5th. Sanford C. Bernstein reissued an “outperform” rating and set a $244.00 target price on shares of Zscaler in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the company a “neutral” rating in a report on Thursday, March 6th. Finally, UBS Group upped their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.53.

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Syam Nair sold 28,947 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the sale, the insider now directly owns 110,566 shares of the company’s stock, valued at $27,641,500. The trade was a 20.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,771 shares of company stock worth $50,165,040. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several institutional investors and hedge funds have recently bought and sold shares of the business. Global X Japan Co. Ltd. grew its stake in shares of Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. ORG Partners LLC boosted its position in Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after buying an additional 94 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Zscaler in the 1st quarter valued at $26,000. Summit Securities Group LLC bought a new stake in shares of Zscaler during the fourth quarter worth $27,000. Finally, Colonial Trust Co SC acquired a new position in shares of Zscaler during the fourth quarter valued at $28,000. Institutional investors own 46.45% of the company’s stock.

Zscaler Stock Down 0.2%

The firm has a fifty day moving average of $212.51 and a 200-day moving average of $203.06. The firm has a market cap of $38.98 billion, a P/E ratio of -1,007.80 and a beta of 1.14.

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.