Morgan Stanley Cuts Zscaler (NASDAQ:ZS) Price Target to $202.00

Zscaler (NASDAQ:ZS) had its price target decreased by investment analysts at Morgan Stanley from $214.00 to $202.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 17.50% from the stock’s current price.

Several other brokerages also recently weighed in on ZS. Sanford C. Bernstein lowered their target price on Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. KeyCorp raised shares of Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price target on the stock in a research report on Thursday, April 18th. Wedbush increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Rosenblatt Securities increased their price target on shares of Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Zscaler from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $230.76.

Zscaler Trading Down 1.3 %

ZS stock opened at $171.91 on Friday. The company has a market cap of $25.77 billion, a price-to-earnings ratio of -180.96 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The business has a fifty day simple moving average of $181.71 and a 200-day simple moving average of $204.81. Zscaler has a 52 week low of $123.21 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. On average, equities research analysts expect that Zscaler will post -0.8 EPS for the current year.

Insider Buying and Selling

In other Zscaler news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zscaler news, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now directly owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,715 shares of company stock valued at $2,455,902. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several institutional investors and hedge funds have recently modified their holdings of the business. PGGM Investments acquired a new stake in shares of Zscaler in the 1st quarter valued at $791,000. Swedbank AB bought a new position in Zscaler in the 1st quarter worth $1,726,000. Virtu Financial LLC bought a new position in Zscaler in the 1st quarter worth $462,000. Rokos Capital Management LLP bought a new position in Zscaler in the 1st quarter worth $17,880,000. Finally, Plato Investment Management Ltd raised its holdings in Zscaler by 1,176.3% in the 1st quarter. Plato Investment Management Ltd now owns 4,365 shares of the company’s stock worth $841,000 after acquiring an additional 4,023 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

About Zscaler

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.