Morgan Stanley Lowers Zscaler (NASDAQ:ZS) Price Target to $205.00

Zscaler (NASDAQ:ZS) had its price objective cut by Morgan Stanley from $215.00 to $205.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently commented on the company. Susquehanna reaffirmed a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research note on Thursday, September 5th. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research report on Monday, November 18th. Needham & Company LLC dropped their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research report on Monday, November 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.84.

Zscaler Stock Performance

Zscaler stock opened at $205.61 on Tuesday. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The company has a market capitalization of $31.55 billion, a P/E ratio of -825.44 and a beta of 0.82. The stock has a 50-day simple moving average of $191.98 and a 200-day simple moving average of $185.29.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same period in the previous year, the business earned ($0.18) EPS. The business’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, analysts forecast that Zscaler will post -0.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 in the last quarter. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Zscaler

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its position in shares of Zscaler by 278.9% during the third quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock worth $5,829,000 after acquiring an additional 25,099 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Zscaler in the third quarter valued at about $38,000. Sanctuary Advisors LLC increased its holdings in Zscaler by 48.1% in the third quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock valued at $1,899,000 after buying an additional 3,608 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Zscaler by 103.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock valued at $7,013,000 after buying an additional 20,900 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Zscaler by 50.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock valued at $397,000 after buying an additional 761 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.