Shares of Zscaler Inc (NASDAQ:ZS) have received an average recommendation of “Buy” from the twenty-seven analysts that are covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $113.78.
ZS has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on Zscaler from $105.00 to $137.00 in a report on Wednesday, August 19th. Berenberg Bank reaffirmed a “hold” rating and issued a $102.00 target price on shares of Zscaler in a report on Tuesday, June 16th. OTR Global raised Zscaler to a “positive” rating in a report on Friday, August 14th. Needham & Company LLC upped their target price on Zscaler from $110.00 to $130.00 and gave the company a “strong-buy” rating in a report on Monday, June 22nd. Finally, UBS Group increased their price objective on Zscaler from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 29th.
In related news, insider Manoj Apte sold 16,664 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $137.06, for a total value of $2,283,967.84. Also, Director Karen Blasing sold 3,000 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $157.16, for a total value of $471,480.00. Following the completion of the sale, the director now owns 5,679 shares in the company, valued at approximately $892,511.64. The disclosure for this sale can be found here. Insiders sold 138,752 shares of company stock valued at $15,979,254 over the last ninety days. Corporate insiders own 23.80% of the company’s stock.
Several hedge funds have recently modified their holdings of ZS. Champlain Investment Partners LLC purchased a new stake in shares of Zscaler in the first quarter worth $103,601,000. BlackRock Inc. raised its position in shares of Zscaler by 24.2% in the first quarter. BlackRock Inc. now owns 5,015,204 shares of the company’s stock worth $305,225,000 after buying an additional 978,591 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Zscaler by 220.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,171 shares of the company’s stock worth $100,321,000 after buying an additional 629,986 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Zscaler by 94.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,051,354 shares of the company’s stock valued at $115,123,000 after purchasing an additional 509,318 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Zscaler by 8.1% during the second quarter. Vanguard Group Inc. now owns 6,688,304 shares of the company’s stock valued at $732,370,000 after purchasing an additional 499,807 shares in the last quarter. Institutional investors own 42.24% of the company’s stock.
Shares of ZS stock traded down $9.11 during trading on Tuesday, hitting $134.34. The company’s stock had a trading volume of 4,310,355 shares, compared to its average volume of 2,649,068. The company has a market cap of $17.38 billion, a PE ratio of -244.25 and a beta of 0.76. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $129.96 and a 200-day moving average of $90.50. Zscaler has a 52 week low of $35.00 and a 52 week high of $163.80.
Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service 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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