Morgan Stanley Raises Zscaler (NASDAQ:ZS) Price Target to $215.00

Zscaler (NASDAQ:ZS) had its price objective upped by Morgan Stanley from $202.00 to $215.00 in a research report released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other analysts have also commented on ZS. Loop Capital reduced their price target on shares of Zscaler from $225.00 to $180.00 and set a hold rating for the company in a research note on Friday, May 31st. Raymond James began coverage on shares of Zscaler in a research note on Tuesday, July 23rd. They issued a market perform rating for the company. Stifel Nicolaus reduced their price target on shares of Zscaler from $270.00 to $220.00 and set a buy rating for the company in a research note on Thursday, May 16th. Cantor Fitzgerald reiterated a neutral rating and issued a $200.00 price target on shares of Zscaler in a research note on Monday, August 19th. Finally, Sanford C. Bernstein reduced their price target on shares of Zscaler from $280.00 to $270.00 and set an outperform rating for the company in a research note on Friday, May 31st. Eight research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $226.18.

Zscaler Stock Down 1.6 %

NASDAQ:ZS opened at $193.97 on Monday. The firm has a market cap of $29.32 billion, a P/E ratio of -380.33 and a beta of 0.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. Zscaler has a fifty-two week low of $139.51 and a fifty-two week high of $259.61. The firm has a 50-day simple moving average of $187.96 and a two-hundred day simple moving average of $190.66.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The business had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Analysts predict that Zscaler will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the sale, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

Large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new position in Zscaler during the second quarter valued at $28,000. Jones Financial Companies Lllp bought a new position in Zscaler during the fourth quarter valued at $29,000. GAMMA Investing LLC bought a new position in Zscaler during the fourth quarter valued at $37,000. Quadrant Capital Group LLC increased its position in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Finally, Asset Dedication LLC increased its position in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares during the last quarter. Institutional investors 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.