Zscaler (NASDAQ:ZS) Given New $205.00 Price Target at Morgan Stanley

Zscaler (NASDAQ:ZS) had its price target reduced by Morgan Stanley from $215.00 to $205.00 in a report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Piper Sandler raised their price target on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, Wedbush reduced their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Eleven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Price Performance

ZS opened at $198.64 on Tuesday. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The firm has a 50-day simple moving average of $190.79 and a two-hundred day simple moving average of $185.01.

Zscaler (NASDAQ:ZS) last released its quarterly 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. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) EPS. As a group, equities research analysts anticipate that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the transaction, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 in the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of Zscaler in the second quarter worth $28,000. Prestige Wealth Management Group LLC purchased a new stake in Zscaler in the third quarter valued at $31,000. True Wealth Design LLC grew its position in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Zscaler during the 3rd quarter valued at about $38,000. Finally, Asset Dedication LLC lifted its holdings in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after buying an additional 166 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

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.