Zscaler (NASDAQ:ZS) Given New $275.00 Price Target at Cantor Fitzgerald

Zscaler (NASDAQ:ZS) had its target price boosted by analysts at Cantor Fitzgerald from $250.00 to $275.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 6.14% from the stock’s current price.

ZS has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on shares of Zscaler from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus upped their price objective on Zscaler from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Royal Bank of Canada increased their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Barclays reiterated an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Finally, Citigroup restated a “buy” rating and set a $240.00 price objective (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.09.

Zscaler Stock Up 2.0%

Shares of ZS traded up $5.00 during trading on Tuesday, reaching $259.10. The company’s stock had a trading volume of 242,917 shares, compared to its average volume of 2,051,955. Zscaler has a twelve month low of $153.45 and a twelve month high of $260.01. The company has a market cap of $40.09 billion, a price-to-earnings ratio of -1,035.36 and a beta of 1.14. The company has a fifty day moving average of $216.59 and a two-hundred day moving average of $204.85.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. This trade represents a 0.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now directly owns 107,587 shares of the company’s stock, valued at $21,425,951.05. This represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 241,771 shares of company stock valued at $50,165,040 over the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZS. Geneos Wealth Management Inc. lifted its holdings in shares of Zscaler by 26.7% in the first quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company’s stock valued at $1,224,000 after purchasing an additional 1,299 shares in the last quarter. Belpointe Asset Management LLC boosted its position in Zscaler by 10.8% during the 1st quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company’s stock worth $231,000 after acquiring an additional 114 shares during the period. Jupiter Wealth Management LLC purchased a new position in Zscaler during the 1st quarter valued at about $298,000. Focus Partners Wealth increased its holdings in shares of Zscaler by 2.5% in the 1st quarter. Focus Partners Wealth now owns 62,083 shares of the company’s stock valued at $12,319,000 after purchasing an additional 1,517 shares during the period. Finally, Bayforest Capital Ltd purchased a new stake in shares of Zscaler in the first quarter worth approximately $34,000. Institutional investors and hedge funds 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.