Zscaler (NASDAQ:ZS) Price Target Increased to $215.00 by Analysts at Morgan Stanley

Zscaler (NASDAQ:ZS) had its target price lifted by Morgan Stanley from $202.00 to $215.00 in a research note published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts also recently issued reports about the company. Sanford C. Bernstein cut their price objective on Zscaler from $280.00 to $270.00 and set an outperform rating for the company in a research report on Friday, May 31st. Barclays lifted their target price on Zscaler from $205.00 to $210.00 and gave the company an overweight rating in a research report on Friday, May 31st. Oppenheimer reaffirmed an outperform rating and issued a $260.00 target price (down from $290.00) on shares of Zscaler in a research report on Friday, May 31st. BTIG Research dropped their target price on Zscaler from $258.00 to $220.00 and set a buy rating for the company in a research report on Friday, May 31st. Finally, Scotiabank dropped their target price on Zscaler from $250.00 to $210.00 and set a sector outperform rating for the company in a research report on Friday, May 31st. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $226.18.

Zscaler Stock Down 1.6 %

Shares of NASDAQ:ZS opened at $193.97 on Monday. The business has a 50-day moving average price of $187.96 and a 200 day moving average price of $190.66. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $29.32 billion, a price-to-earnings ratio of -380.33 and a beta of 0.85. Zscaler has a 12-month low of $139.51 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. The firm had revenue of $553.20 million during the quarter, compared to the consensus estimate of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. Sell-side analysts expect that Zscaler will post -0.32 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total value of $848,380.77. Following the completion of the sale, the chief financial officer now owns 251,467 shares in the company, valued at $45,497,924.31. The sale was disclosed in a document filed with the SEC, which is available through this link. 19.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sierra Summit Advisors LLC acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $5,609,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Zscaler by 6.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after purchasing an additional 6,683 shares during the period. Norges Bank acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $117,599,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Zscaler by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after purchasing an additional 9,689 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of Zscaler by 40.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock valued at $470,000 after purchasing an additional 696 shares during the period. Hedge funds and other institutional investors 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.