Zscaler (NASDAQ:ZS) had its target price lifted by investment analysts at Needham & Company LLC from $215.00 to $240.00 in a research report issued on Tuesday, AnalystRatings.net reports. The brokerage currently has a “strong-buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 15.90% from the company’s previous close.
Several other research firms have also commented on ZS. Royal Bank of Canada upped their price target on shares of Zscaler from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, November 30th. Zacks Investment Research lowered Zscaler from a “buy” rating to a “hold” rating and set a $197.00 target price on the stock. in a report on Saturday, December 19th. Truist lifted their price target on Zscaler from $100.00 to $130.00 in a research report on Thursday, December 3rd. JPMorgan Chase & Co. lowered Zscaler from an “overweight” rating to a “neutral” rating and set a $190.00 price objective on the stock. in a research report on Thursday, December 10th. Finally, Wedbush lifted their target price on shares of Zscaler from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $168.88.
Shares of NASDAQ ZS opened at $207.08 on Tuesday. Zscaler has a 52 week low of $35.00 and a 52 week high of $214.83. The business’s 50 day moving average price is $185.25 and its 200 day moving average price is $146.72. The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 1.78. The firm has a market cap of $27.79 billion, a P/E ratio of -232.67 and a beta of 0.79.
In other news, Director Karen Blasing sold 3,000 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $134.87, for a total value of $404,610.00. Following the completion of the sale, the director now directly owns 4,637 shares in the company, valued at $625,392.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ajay Mangal sold 75,000 shares of the firm’s stock in a transaction dated Thursday, December 24th. The stock was sold at an average price of $206.22, for a total transaction of $15,466,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,540 shares of company stock worth $56,071,621. 23.80% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ZS. Huntington National Bank lifted its stake in Zscaler by 35.7% in the 4th quarter. Huntington National Bank now owns 190 shares of the company’s stock worth $38,000 after purchasing an additional 50 shares in the last quarter. Pathstone Family Office LLC acquired a new stake in shares of Zscaler in the third quarter valued at approximately $42,000. Carroll Financial Associates Inc. lifted its position in Zscaler by 333.3% during the third quarter. Carroll Financial Associates Inc. now owns 325 shares of the company’s stock worth $45,000 after buying an additional 250 shares in the last quarter. Weaver Consulting Group boosted its stake in Zscaler by 29.5% during the third quarter. Weaver Consulting Group now owns 329 shares of the company’s stock worth $46,000 after buying an additional 75 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in Zscaler in the 3rd quarter valued at $54,000. Institutional investors own 42.24% of the company’s stock.
Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, internet of things, and device 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 internally managed applications, either hosted internally in data centers, and private or public clouds.
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