Zscaler (NASDAQ:ZS) Upgraded to Overweight at Cantor Fitzgerald

Zscaler (NASDAQ:ZS) was upgraded by analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $250.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 20.75% from the stock’s previous close.

A number of other research firms also recently weighed in on ZS. Wedbush upped their target price on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the company a “neutral” rating in a research note on Thursday, March 6th. Scotiabank reiterated a “sector outperform” rating and set a $242.00 price objective (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Sanford C. Bernstein restated an “outperform” rating and issued a $244.00 target price on shares of Zscaler in a research report on Thursday, March 6th. Finally, Morgan Stanley initiated coverage on shares of Zscaler in a report on Tuesday, March 18th. They set an “equal weight” rating for the company. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $234.94.

Zscaler Trading Up 3.0 %

Shares of ZS stock opened at $207.04 on Thursday. The stock has a market cap of $32.03 billion, a P/E ratio of -828.16 and a beta of 1.12. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The stock has a 50 day simple moving average of $202.77 and a 200 day simple moving average of $194.42.

Insider Buying and Selling

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the transaction, the insider now directly owns 107,587 shares in the company, valued at $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock valued at $39,970,790 in the last three months. Insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Several hedge funds have recently modified their holdings of ZS. Corebridge Financial Inc. raised its position in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after purchasing an additional 54 shares during the period. Erste Asset Management GmbH raised its position in Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after buying an additional 56 shares during the last quarter. KRS Capital Management LLC lifted its stake in Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after acquiring an additional 60 shares in the last quarter. Ironwood Investment Management LLC boosted its holdings in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after acquiring an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares during the last quarter. 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.