Zscaler (NASDAQ:ZS) Price Target Raised to $215.00 at Morgan Stanley

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

ZS has been the subject of several other research reports. Susquehanna lowered their price objective on shares of Zscaler from $275.00 to $210.00 and set a positive rating for the company in a research report on Friday, May 31st. Loop Capital lowered their price objective on shares of Zscaler from $225.00 to $180.00 and set a hold rating for the company in a research report on Friday, May 31st. Raymond James assumed coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They issued a market perform rating for the company. Cantor Fitzgerald reaffirmed a neutral rating and issued a $200.00 price objective on shares of Zscaler in a research report on Monday, August 19th. Finally, Oppenheimer reissued an outperform rating and set a $260.00 price target (down previously from $290.00) on shares of Zscaler in a research report on Friday, May 31st. Eight investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $226.18.

Zscaler Stock Down 0.8 %

ZS opened at $197.82 on Monday. The firm has a 50 day moving average price of $187.31 and a 200 day moving average price of $191.04. The company has a market cap of $29.90 billion, a PE ratio of -387.88 and a beta of 0.85. Zscaler has a 1 year low of $139.51 and a 1 year high of $259.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75.

Zscaler (NASDAQ:ZS) last posted its earnings results 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 net margin of 3.62% and a negative return on equity of 5.84%. Sell-side analysts expect that Zscaler will post -0.32 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ZS. 1832 Asset Management L.P. acquired a new position in shares of Zscaler during the fourth quarter valued at $217,683,000. Norges Bank acquired a new position in Zscaler during the fourth quarter worth about $117,599,000. Trivest Advisors Ltd acquired a new position in Zscaler during the fourth quarter worth about $72,051,000. Quadrature Capital Ltd acquired a new position in Zscaler during the first quarter worth about $47,217,000. Finally, Vanguard Group Inc. grew its holdings in Zscaler by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after acquiring an additional 206,908 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

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.