Stephens Upgrades Zscaler (NASDAQ:ZS) to Strong-Buy

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

Several other analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. BMO Capital Markets raised their price target on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $235.00 in a research report on Thursday, March 6th. Mizuho raised their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Barclays reiterated an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $232.35.

Zscaler Price Performance

Shares of ZS opened at $201.07 on Monday. The firm has a 50 day simple moving average of $202.49 and a two-hundred day simple moving average of $194.34. Zscaler has a one year low of $153.45 and a one year high of $217.84. The company has a market cap of $31.11 billion, a P/E ratio of -804.28 and a beta of 0.88.

Insider Transactions at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction that occurred on 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 directly 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 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. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after purchasing an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after buying an additional 332,307 shares in the last quarter. AQR Capital Management LLC raised its position in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after buying an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after acquiring an additional 204,996 shares in the last quarter. Finally, DnB Asset Management AS boosted its holdings in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after acquiring an additional 267,162 shares during the last quarter. Institutional investors and hedge funds 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.