SunTrust Banks reaffirmed their buy rating on shares of Zscaler (NASDAQ:ZS) in a research note published on Wednesday, TipRanks reports. They currently have a $73.00 price target on the stock.
Other research analysts have also issued reports about the company. Goldman Sachs Group initiated coverage on Zscaler in a research report on Tuesday, November 12th. They issued a neutral rating and a $45.00 price objective on the stock. ValuEngine raised Zscaler from a sell rating to a hold rating in a research report on Monday, October 21st. Berenberg Bank raised Zscaler from a hold rating to a buy rating and decreased their target price for the stock from $78.00 to $60.00 in a research report on Tuesday, September 24th. Rosenblatt Securities reiterated a hold rating and issued a $50.00 target price on shares of Zscaler in a research note on Wednesday. Finally, Credit Suisse Group reiterated an outperform rating and set a $70.00 target price (down from $78.00) on shares of Zscaler in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Zscaler presently has an average rating of Hold and an average target price of $62.70.
Zscaler stock opened at $46.70 on Wednesday. The firm has a fifty day moving average of $45.76 and a 200-day moving average of $64.31. Zscaler has a 52-week low of $34.21 and a 52-week high of $89.54. The firm has a market capitalization of $5.97 billion, a P/E ratio of -389.17 and a beta of 1.22.
In other news, Director Karen Blasing sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.80, for a total transaction of $46,800.00. Also, insider Robert Schlossman sold 2,000 shares of Zscaler stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $50.00, for a total transaction of $100,000.00. Following the sale, the insider now owns 94,966 shares in the company, valued at $4,748,300. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $345,300 in the last 90 days. 23.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ZS. CSat Investment Advisory L.P. bought a new stake in shares of Zscaler during the 2nd quarter worth about $25,000. Meadow Creek Investment Management LLC acquired a new stake in shares of Zscaler in the 2nd quarter worth approximately $32,000. Neuburgh Advisers LLC acquired a new stake in shares of Zscaler in the 2nd quarter worth approximately $44,000. Tyers Asset Management LLC acquired a new stake in shares of Zscaler in the 2nd quarter worth approximately $56,000. Finally, Advisory Services Network LLC bought a new position in shares of Zscaler in the second quarter valued at approximately $63,000. Hedge funds and other institutional investors own 36.46% of the company’s stock.
Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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