Zscaler (NASDAQ:ZS) Upgraded to Strong-Buy at Stephens

Stephens upgraded shares of Zscaler (NASDAQ:ZS) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

ZS has been the topic of several other reports. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. BTIG Research set a $252.00 target price on Zscaler and gave the stock a “buy” rating in a report on Thursday, March 6th. Scotiabank restated a “sector outperform” rating and issued a $242.00 price target (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Oppenheimer raised their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Barclays reissued an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $232.35.

Zscaler Price Performance

Shares of ZS stock opened at $201.07 on Monday. The stock has a 50-day moving average of $202.49 and a 200-day moving average of $194.34. Zscaler has a one year low of $153.45 and a one year high of $217.84. The stock has a market cap of $31.11 billion, a PE ratio of -804.28 and a beta of 0.88.

Insider Activity

In other news, CFO Remo Canessa sold 3,721 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $741,037.15. Following the transaction, the chief financial officer now directly owns 213,702 shares of the company’s stock, valued at $42,558,753.30. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their position. 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 quarter. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several hedge funds have recently bought and sold shares of ZS. The Manufacturers Life Insurance Company raised its stake in Zscaler by 9.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock worth $1,191,000 after purchasing an additional 581 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Zscaler by 27.0% during the third quarter. D.A. Davidson & CO. now owns 1,936 shares of the company’s stock worth $331,000 after purchasing an additional 411 shares during the period. Captrust Financial Advisors raised its position in shares of Zscaler by 11.2% in the third quarter. Captrust Financial Advisors now owns 5,024 shares of the company’s stock valued at $859,000 after buying an additional 504 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Zscaler in the third quarter valued at approximately $1,670,000. Finally, Benjamin Edwards Inc. bought a new position in Zscaler during the 3rd quarter worth $449,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.