Wedbush reaffirmed their outperform rating on shares of Zscaler (NASDAQ:ZS) in a report released on Thursday, AnalystRatings.com reports. Wedbush currently has a $87.00 target price on the stock, up from their previous target price of $82.00.
A number of other equities research analysts also recently commented on the company. Deutsche Bank lifted their target price on Zscaler from $57.00 to $76.00 and gave the company a hold rating in a research report on Wednesday, May 29th. Bank of America set a $53.00 target price on Zscaler and gave the company a hold rating in a research report on Friday, March 1st. Berenberg Bank initiated coverage on Zscaler in a research report on Friday, May 31st. They issued a hold rating and a $78.00 target price on the stock. Piper Jaffray Companies restated an overweight rating and issued a $65.00 target price on shares of Zscaler in a research report on Friday, March 1st. Finally, Cowen initiated coverage on Zscaler in a research report on Thursday, May 23rd. They issued an outperform rating and a $85.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $72.33.
Shares of Zscaler stock opened at $76.64 on Thursday. Zscaler has a one year low of $30.72 and a one year high of $82.25. The stock has a market capitalization of $9.74 billion, a P/E ratio of -247.23 and a beta of 1.19. The stock’s 50 day moving average is $74.94.
In other news, Director Karen Blasing sold 1,000 shares of Zscaler stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.00, for a total value of $72,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 110,000 shares of Zscaler stock in a transaction on Monday, June 10th. The shares were sold at an average price of $78.19, for a total value of $8,600,900.00. The disclosure for this sale can be found here. Insiders sold 437,813 shares of company stock valued at $32,546,132 over the last ninety days. Insiders own 27.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tortoise Index Solutions LLC acquired a new position in Zscaler during the 1st quarter worth $25,000. FTB Advisors Inc. acquired a new position in Zscaler during the 1st quarter worth $26,000. Nisa Investment Advisors LLC acquired a new position in Zscaler during the 1st quarter worth $28,000. Acadian Asset Management LLC grew its stake in Zscaler by 561.3% during the 4th quarter. Acadian Asset Management LLC now owns 1,230 shares of the company’s stock worth $48,000 after purchasing an additional 1,044 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Zscaler by 211.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock worth $50,000 after purchasing an additional 475 shares in the last quarter. 33.94% of the stock is owned by hedge funds and other institutional investors.
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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