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Citigroup Maintains Zscaler (ZS) Buy Recommendation

Fintel reports that on September 19, 2023, Citigroup maintained coverage of Zscaler (NASDAQ:ZS) with a Buy recommendation.

Analyst Price Forecast Suggests 14.78% Upside

As of August 31, 2023, the average one-year price target for Zscaler is 177.58. The forecasts range from a low of 121.20 to a high of $266.70. The average price target represents an increase of 14.78% from its latest reported closing price of 154.72.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Zscaler is 1,574MM, a decrease of 2.66%. The projected annual non-GAAP EPS is 1.28.

What is the Fund Sentiment?

There are 1011 funds or institutions reporting positions in Zscaler. This is a decrease of 24 owner(s) or 2.32% in the last quarter. Average portfolio weight of all funds dedicated to ZS is 0.29%, an increase of 12.92%. Total shares owned by institutions decreased in the last three months by 3.89% to 75,197K shares. The put/call ratio of ZS is 1.01, indicating a bearish outlook.

What are Other Shareholders Doing?

ZS / Zscaler Inc Shares Held by Institutions

Voya Investment Management holds 2,967K shares representing 2.02% ownership of the company. In it’s prior filing, the firm reported owning 2,649K shares, representing an increase of 10.72%. The firm increased its portfolio allocation in ZS by 32.61% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,732K shares representing 1.86% ownership of the company. In it’s prior filing, the firm reported owning 2,681K shares, representing an increase of 1.86%. The firm increased its portfolio allocation in ZS by 17.72% over the last quarter.

Artisan Partners Limited Partnership holds 2,363K shares representing 1.61% ownership of the company. In it’s prior filing, the firm reported owning 4,162K shares, representing a decrease of 76.13%. The firm decreased its portfolio allocation in ZS by 30.49% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 2,018K shares representing 1.37% ownership of the company. In it’s prior filing, the firm reported owning 2,021K shares, representing a decrease of 0.14%. The firm increased its portfolio allocation in ZS by 20.05% over the last quarter.

WestBridge Capital Management holds 1,996K shares representing 1.36% ownership of the company. No change in the last quarter.

Zscaler Background Information
(This description is provided by the company.)

Zscaler accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words
Fintel reports that on September 19, 2023, Citigroup maintained coverage of Zscaler (NASDAQ:ZS) with a Buy recommendation. Analyst Price Forecast Suggests 14.78% Upside As of August 31, 2023, the average one-year price target for Zscaler is 177.58. The forecasts range from a low of 121.20 to a high of $266.70. The average price target represents an increase of 14.78% from its latest reported closing price of 154.72.

See our leaderboard of companies with the largest price target upside. The projected annual revenue for Zscaler is 1,574MM, a decrease of 2.66%. The projected annual non-GAAP EPS is 1.28. What is the Fund Sentiment? There are 1011 funds or institutions reporting positions in Zscaler. This is a decrease of 24 owner(s) or 2.32% in the last quarter. Average portfolio weight of all funds dedicated to ZS is 0.29%, an increase of 12.92%. Total shares owned by institutions decreased in the last three months by 3.89% to 75,197K shares. The put/call ratio of ZS is 1.01, indicating a bearish outlook. What are Other Shareholders Doing? Voya Investment Management holds 2,967K shares representing 2.02% ownership of the company. In it’s prior filing, the firm reported owning 2,649K shares, representing an increase of 10.72%. The firm increased its portfolio allocation in ZS by 32.61% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,732K shares representing 1.86% ownership of the company. In it’s prior filing, the firm reported owning 2,681K shares, representing an increase of 1.86%. The firm increased its portfolio allocation in ZS by 17.72% over the last quarter. Artisan Partners Limited Partnership holds 2,363K shares representing 1.61% ownership of the company. In it’s prior filing, the firm reported owning 4,162K shares, representing a decrease of 76.13%. The firm decreased its portfolio allocation in ZS by 30.49% over the last quarter. VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 2,018K shares representing 1.37% ownership of the company. In it’s prior filing, the firm reported owning 2,021K shares, representing a decrease of 0.14%. The firm increased its portfolio allocation in ZS by 20.05% over the last quarter. WestBridge Capital Management holds 1,996K shares representing 1.36% ownership of the company. No change in the last quarter. Zscaler Background Information(This description is provided by the company.)

Zscaler accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform. Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn MoreThis story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/citigroup-maintains-zscaler-zs-buy-recommendation-0 Citigroup Maintains Zscaler (ZS) Buy Recommendation

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