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

Zscaler (NASDAQ:ZS) had its price target reduced by equities research analysts at Morgan Stanley from $214.00 to $202.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 17.50% from the company’s current price.

A number of other equities analysts have also commented on ZS. Stifel Nicolaus lowered their price target on shares of Zscaler from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. JMP Securities restated a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a research report on Tuesday, May 14th. Barclays lowered their price objective on shares of Zscaler from $240.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group upped their price objective on shares of Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zscaler from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.76.

Zscaler Price Performance

Shares of ZS opened at $171.91 on Friday. The firm has a market capitalization of $25.77 billion, a PE ratio of -180.96 and a beta of 0.85. The company’s 50-day moving average is $181.71 and its 200-day moving average is $204.81. Zscaler has a fifty-two week low of $123.21 and a fifty-two week high of $259.61. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The business had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. Equities analysts forecast that Zscaler will post -0.8 EPS for the current year.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 2,893 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the transaction, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction dated Monday, March 18th. The shares were 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 owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,715 shares of company stock worth $2,455,902. Insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Several institutional investors and hedge funds have recently made changes to their positions in ZS. 1832 Asset Management L.P. bought a new position in Zscaler during the fourth quarter valued at about $217,683,000. Norges Bank bought a new position in Zscaler during the fourth quarter valued at about $117,599,000. Polar Capital Holdings Plc bought a new position in Zscaler during the third quarter valued at about $61,681,000. Trivest Advisors Ltd bought a new position in Zscaler during the fourth quarter valued at about $72,051,000. Finally, Quadrature Capital Ltd bought a new position in Zscaler during the first quarter valued at about $47,217,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Company Profile

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.