ZS Stock Surges – What's Behind the Rise?

After this evening's 2.6% surge to $210.76 per share, Zscaler might just keep moving past its target price of $210.92. With an average analyst rating of buy, and target prices from $166.0 to $254.0, the stock's next move is anyone's guess.

The stock has an average amount of shares sold short at 6.6%, and a short ratio of 2.41. The company's insiders own 40.61% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that only a small number of institutional investors are invested in the stock, with 48.5% of Zscaler's shares being owned by this investor type.

Institutions Invested in Zscaler

Date Reported Holder Percentage Shares Value
2023-09-30 Vanguard Group Inc 6% 8,636,864 $1,820,305,409
2023-09-30 Blackrock Inc. 4% 6,239,124 $1,314,957,739
2023-09-30 Voya Investment Management LLC 2% 3,109,218 $655,298,768
2023-09-30 Westbridge Capital Management, LLC 1% 1,996,421 $420,765,678
2023-09-30 First Trust Advisors LP 1% 2,006,636 $422,918,592
2023-09-30 State Street Corporation 1% 1,831,553 $386,018,100
2023-09-30 Champlain Investment Partners, LLC 1% 1,694,660 $357,166,532
2023-09-30 Goldman Sachs Group Inc 1% 1,660,774 $350,024,719
2023-09-30 Capital Research Global Investors 1% 1,475,581 $310,993,443
2023-09-30 Price (T.Rowe) Associates Inc 1% 1,444,349 $304,410,987

Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Zscaler.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.