BMO Capital Markets Boosts Zscaler (NASDAQ:ZS) Price Target to $233.00

Zscaler (NASDAQ:ZS) had its price objective raised by BMO Capital Markets from $222.00 to $233.00 in a report issued on Thursday, MarketBeat.com reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 11.61% from the company’s previous close.

Several other research analysts have also commented on the company. Jefferies Financial Group raised their price objective on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Scotiabank reissued a “sector outperform” rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a research report on Wednesday. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Citigroup reissued a “buy” rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.29.

Zscaler Trading Up 3.3 %

Shares of ZS opened at $208.76 on Thursday. The stock’s fifty day simple moving average is $196.30 and its 200 day simple moving average is $191.65. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84. The firm has a market capitalization of $32.03 billion, a P/E ratio of -835.04 and a beta of 0.89.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the sale, the insider now directly owns 142,866 shares in the company, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 over the last quarter. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently made changes to their positions in the business. Siemens Fonds Invest GmbH bought a new stake in shares of Zscaler during the fourth quarter valued at approximately $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Zscaler during the fourth quarter worth approximately $28,802,000. Brooklyn FI LLC bought a new stake in Zscaler during the fourth quarter worth approximately $1,957,000. Azzad Asset Management Inc. ADV raised its holdings in Zscaler by 0.5% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company’s stock worth $3,390,000 after purchasing an additional 85 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC bought a new stake in Zscaler during the fourth quarter worth approximately $209,000. 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.