Rosenblatt Securities Upgrades Zscaler (NASDAQ:ZS) to Buy

Zscaler (NASDAQ:ZS) was upgraded by investment analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat reports. The firm currently has a $235.00 price objective on the stock, up from their prior price objective of $190.00. Rosenblatt Securities’ price target suggests a potential upside of 12.57% from the stock’s previous close.

ZS has been the topic of a number of other reports. Citigroup reissued a “buy” rating and set a $240.00 price objective (up from $235.00) on shares of Zscaler in a research report on Wednesday. Loop Capital reduced their price objective on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Morgan Stanley reduced their price objective on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 3rd. KeyCorp boosted their price objective on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank reissued a “sector outperform” rating and set a $242.00 price objective (up from $225.00) on shares of Zscaler in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.29.

Zscaler Trading Up 3.3 %

Shares of Zscaler stock opened at $208.76 on Thursday. The company’s fifty day simple moving average is $196.30 and its two-hundred day simple moving average is $191.65. The company has a market cap of $32.03 billion, a P/E ratio of -835.04 and a beta of 0.89. Zscaler has a 12-month low of $153.45 and a 12-month high of $217.84.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Siemens Fonds Invest GmbH purchased a new stake in shares of Zscaler during the 4th quarter valued at about $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Zscaler during the 4th quarter valued at about $28,802,000. Brooklyn FI LLC purchased a new stake in shares of Zscaler during the 4th quarter valued at about $1,957,000. Azzad Asset Management Inc. ADV increased its position in shares of Zscaler by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company’s stock valued at $3,390,000 after purchasing an additional 85 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC purchased a new stake in shares of Zscaler during the 4th quarter valued at about $209,000. Hedge funds and other 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.