Zscaler (NASDAQ:ZS) Coverage Initiated at Roth Capital

Investment analysts at Roth Capital started coverage on shares of Zscaler (NASDAQ:ZS) in a report released on Wednesday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $215.00 price target on the stock. Roth Capital’s price objective indicates a potential upside of 2.31% from the company’s current price.

Several other brokerages also recently commented on ZS. Stephens assumed coverage on shares of Zscaler in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $255.00 price objective for the company. Jefferies Financial Group lowered their price objective on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 31st. UBS Group upped their target price on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Sanford C. Bernstein reissued an “outperform” rating and set a $244.00 price target on shares of Zscaler in a research report on Thursday, March 6th. Finally, Cantor Fitzgerald upgraded shares of Zscaler from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $220.00 to $250.00 in a research note on Thursday, April 3rd. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.16.

Zscaler Price Performance

Zscaler stock opened at $210.14 on Wednesday. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84. The stock’s 50-day moving average is $199.33 and its 200-day moving average is $197.03. The company has a market cap of $32.51 billion, a price-to-earnings ratio of -840.56 and a beta of 1.12.

Insider Activity at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares of the company’s stock, valued at $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,234 shares of company stock valued at $42,030,790. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings 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 acquiring an additional 525,956 shares in the last quarter. Natixis acquired a new position in Zscaler in the fourth quarter valued at about $87,775,000. Greenvale Capital LLP bought a new stake in Zscaler during the fourth quarter worth about $72,164,000. Pictet Asset Management Holding SA lifted its position 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 purchasing an additional 332,307 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Zscaler by 148.7% during the first quarter. Assenagon Asset Management S.A. now owns 474,431 shares of the company’s stock worth $94,137,000 after buying an additional 283,637 shares in the last quarter. 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.