Zscaler (NASDAQ:ZS) Upgraded at Rosenblatt Securities

Zscaler (NASDAQ:ZS) was upgraded by equities research analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a report released on Thursday, MarketBeat reports. The brokerage currently has a $235.00 price target on the stock, up from their previous price target of $190.00. Rosenblatt Securities’ price objective points to a potential upside of 12.57% from the stock’s previous close.

Several other research firms have also issued reports on ZS. KeyCorp increased their target price on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. BMO Capital Markets increased their target price on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Piper Sandler increased their target price on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Stifel Nicolaus upped their price target on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.29.

Zscaler Trading Up 3.3 %

Zscaler stock opened at $208.76 on Thursday. The firm has a 50 day moving average of $196.30 and a 200 day moving average of $191.65. The firm has a market capitalization of $32.03 billion, a price-to-earnings ratio of -835.04 and a beta of 0.89. Zscaler has a 12-month low of $153.45 and a 12-month high of $217.84.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock worth $2,052,879 over the last three months. 18.10% of the stock is owned by insiders.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fred Alger Management LLC increased its stake in Zscaler by 1,151.0% in the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the period. Zweig DiMenna Associates LLC increased its stake in Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after purchasing an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft increased its stake in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the period. Finally, Van ECK Associates Corp increased its stake in Zscaler by 1,786.5% in the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after purchasing an additional 14,274 shares during the period. Hedge funds and other institutional investors 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.