Zscaler (NASDAQ:ZS) Price Target Cut to $205.00 by Analysts at Morgan Stanley

Zscaler (NASDAQ:ZS) had its target price reduced by equities research analysts at Morgan Stanley from $215.00 to $205.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 1.68% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Citigroup decreased their price objective on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a report on Friday, October 4th. Scotiabank dropped their target price on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday. Susquehanna reaffirmed a “positive” rating and issued a $210.00 price target on shares of Zscaler in a research note on Thursday, September 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a report on Monday, November 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.81.

Zscaler Price Performance

Shares of Zscaler stock opened at $208.51 on Tuesday. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61. The company’s fifty day simple moving average is $190.12 and its 200-day simple moving average is $184.80. The stock has a market capitalization of $31.99 billion, a PE ratio of -521.26 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the company earned ($0.18) EPS. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, research analysts anticipate that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZS. Quest Partners LLC acquired a new stake in shares of Zscaler during the second quarter valued at about $28,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the 3rd quarter valued at about $31,000. True Wealth Design LLC boosted its holdings in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Zscaler in the third quarter valued at about $38,000. Finally, Asset Dedication LLC grew its position 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 acquiring an additional 166 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.