Zscaler (NASDAQ:ZS) Now Covered by Analysts at Morgan Stanley

Research analysts at Morgan Stanley began coverage on shares of Zscaler (NASDAQ:ZS) in a research note issued to investors on Tuesday. The brokerage set an “equal weight” rating on the stock.

ZS has been the subject of a number of other research reports. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $240.00 in a research report on Friday, March 7th. BMO Capital Markets increased their target price on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Oppenheimer upped their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, KeyCorp lifted their price objective on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $233.88.

Zscaler Stock Down 2.2 %

ZS traded down $4.41 on Tuesday, reaching $198.24. The company’s stock had a trading volume of 196,213 shares, compared to its average volume of 1,806,585. The company has a market capitalization of $30.67 billion, a price-to-earnings ratio of -792.95 and a beta of 0.88. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The stock has a 50 day moving average of $198.42 and a two-hundred day moving average of $191.63.

Hedge Funds Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. OneDigital Investment Advisors LLC grew its stake in Zscaler by 50.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the company’s stock valued at $498,000 after purchasing an additional 983 shares in the last quarter. Empowered Funds LLC boosted its holdings in Zscaler by 3.5% during the third quarter. Empowered Funds LLC now owns 19,578 shares of the company’s stock valued at $3,347,000 after acquiring an additional 665 shares during the period. Swiss National Bank boosted its position in shares of Zscaler by 1.1% in the third quarter. Swiss National Bank now owns 269,200 shares of the company’s stock valued at $46,017,000 after acquiring an additional 2,900 shares during the period. LMR Partners LLP acquired a new stake in Zscaler in the 3rd quarter worth $1,787,000. Finally, Aviance Capital Partners LLC raised its position in shares of Zscaler by 6.7% during the third quarter. Aviance Capital Partners LLC now owns 8,000 shares of the company’s stock valued at $1,368,000 after buying an additional 500 shares during the last quarter. 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.