Stifel Nicolaus Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its target price raised by stock analysts at Stifel Nicolaus from $235.00 to $270.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 7.36% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Wells Fargo & Company upped their price objective on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $240.00 target price on shares of Zscaler in a research note on Wednesday, March 5th. Wedbush raised their price target on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, Morgan Stanley lowered their target price on Zscaler from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $238.53.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $251.50 on Friday. The stock’s 50-day moving average is $210.17 and its two-hundred day moving average is $202.08. Zscaler has a 1-year low of $153.45 and a 1-year high of $253.59. The company has a market cap of $38.91 billion, a price-to-earnings ratio of -1,006.00 and a beta of 1.14.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now directly owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZS. Assenagon Asset Management S.A. raised its position in Zscaler by 59.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock worth $34,421,000 after acquiring an additional 71,297 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Zscaler in the 4th quarter valued at $1,976,000. Hennion & Walsh Asset Management Inc. increased its position in Zscaler by 10.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,304 shares of the company’s stock worth $2,220,000 after acquiring an additional 1,169 shares during the period. Bouvel Investment Partners LLC increased its holdings in shares of Zscaler by 1.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 17,547 shares of the company’s stock worth $3,166,000 after purchasing an additional 241 shares during the period. Finally, Empirical Asset Management LLC bought a new position in Zscaler during the 4th quarter worth $3,733,000. 46.45% of the stock is owned by institutional investors and hedge funds.

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.