Zscaler (NASDAQ:ZS) Sets New 1-Year High – Should You Buy?

Zscaler, Inc. (NASDAQ:ZS)’s stock price reached a new 52-week high on Monday . The stock traded as high as $221.50 and last traded at $221.31, with a volume of 693210 shares changing hands. The stock had previously closed at $215.58.

Wall Street Analyst Weigh In

ZS has been the topic of several research analyst reports. Cantor Fitzgerald raised Zscaler from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $220.00 to $250.00 in a research note on Thursday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Wednesday, March 5th. Robert W. Baird upped their price target on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Roth Capital initiated coverage on shares of Zscaler in a report on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price target for the company. Finally, BTIG Research set a $252.00 price objective on shares of Zscaler and gave the stock a “buy” rating in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.66.

Zscaler Stock Performance

The business’s 50 day moving average is $199.30 and its two-hundred day moving average is $197.39. The firm has a market capitalization of $33.57 billion, a PE ratio of -867.24 and a beta of 1.12.

Insiders Place Their Bets

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Zscaler

Several large investors have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its holdings in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the period. ORG Partners LLC lifted its position in Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares during the period. Summit Securities Group LLC acquired a new stake in Zscaler during the 4th quarter worth about $27,000. Colonial Trust Co SC acquired a new position in shares of Zscaler in the 4th quarter valued at about $28,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $29,000. 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.