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

Zscaler (NASDAQ:ZS) had its target price reduced by research analysts at Morgan Stanley from $214.00 to $202.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 17.69% from the company’s previous close.

Several other analysts also recently commented on ZS. Macquarie reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Zscaler in a research note on Tuesday, March 19th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $290.00 price objective on shares of Zscaler in a research note on Friday, March 1st. Sanford C. Bernstein reduced their price objective 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 Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price objective for the company in a research note on Thursday, April 18th. Finally, Robert W. Baird lowered their price target on Zscaler from $265.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday. 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 company. According to data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $230.76.

Zscaler Stock Down 0.2 %

Zscaler stock opened at $171.64 on Friday. Zscaler has a fifty-two week low of $125.25 and a fifty-two week high of $259.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market capitalization of $25.73 billion, a P/E ratio of -180.67 and a beta of 0.85. The stock has a 50-day simple moving average of $181.26 and a 200-day simple moving average of $205.10.

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

Insider Buying and Selling

In related news, CFO Remo Canessa sold 7,707 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the transaction, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the transaction, the chief financial officer now owns 255,943 shares in the company, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,715 shares of company stock valued at $2,455,902. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ZS. Teacher Retirement System of Texas increased its position in shares of Zscaler by 3.0% during the third quarter. Teacher Retirement System of Texas now owns 6,782 shares of the company’s stock worth $1,055,000 after acquiring an additional 199 shares during the last quarter. M&T Bank Corp increased its position in shares of Zscaler by 2.6% during the third quarter. M&T Bank Corp now owns 3,079 shares of the company’s stock worth $479,000 after acquiring an additional 79 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Zscaler by 24.4% during the third quarter. Nisa Investment Advisors LLC now owns 765 shares of the company’s stock worth $119,000 after acquiring an additional 150 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Zscaler by 3.5% during the third quarter. Principal Financial Group Inc. now owns 10,790 shares of the company’s stock worth $1,679,000 after acquiring an additional 363 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Zscaler by 3.5% during the third quarter. California Public Employees Retirement System now owns 129,434 shares of the company’s stock worth $20,139,000 after acquiring an additional 4,334 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.