Zscaler (NASDAQ:ZS) PT Lowered to $47.00 at Morgan Stanley

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Zscaler (NASDAQ:ZS) had its price objective reduced by Morgan Stanley to $47.00 in a research report released on Wednesday morning, The Fly reports. Morgan Stanley currently has an underweight rating on the stock.

ZS has been the subject of a number of other research reports. Rosenblatt Securities started coverage on Zscaler in a research note on Monday, September 9th. They set a neutral rating and a $65.00 price objective for the company. Wedbush reduced their price objective on Zscaler from $90.00 to $80.00 and set an outperform rating for the company in a research note on Wednesday. BMO Capital Markets reduced their price objective on Zscaler from $100.00 to $60.00 and set a market perform rating for the company in a research note on Wednesday. They noted that the move was a valuation call. Robert W. Baird set a $80.00 price objective on Zscaler and gave the company a buy rating in a research note on Friday, September 6th. Finally, OTR Global lowered Zscaler from a mixed rating to a negative rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $67.50.

NASDAQ ZS opened at $47.48 on Wednesday. The stock has a 50-day simple moving average of $75.30 and a two-hundred day simple moving average of $72.12. The firm has a market capitalization of $6.24 billion, a P/E ratio of -395.67 and a beta of 1.29. Zscaler has a fifty-two week low of $30.72 and a fifty-two week high of $89.54.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06. The business had revenue of $86.11 million during the quarter, compared to analyst estimates of $82.15 million. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. Sell-side analysts expect that Zscaler will post -0.24 earnings per share for the current year.

In related news, insider Robert Schlossman sold 1,213 shares of Zscaler stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $77.80, for a total value of $94,371.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Blasing sold 1,000 shares of Zscaler stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $77.12, for a total value of $77,120.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,774 shares of company stock valued at $15,730,959. 27.40% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Zscaler by 11.7% in the 1st quarter. FMR LLC now owns 7,160,253 shares of the company’s stock valued at $507,877,000 after purchasing an additional 750,088 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Zscaler by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,739,352 shares of the company’s stock worth $363,224,000 after buying an additional 655,847 shares during the last quarter. BlackRock Inc. boosted its holdings in Zscaler by 0.4% in the 1st quarter. BlackRock Inc. now owns 3,698,605 shares of the company’s stock worth $262,341,000 after buying an additional 13,259 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Zscaler by 19.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,453,763 shares of the company’s stock worth $188,057,000 after buying an additional 400,253 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in Zscaler in the 2nd quarter worth about $148,614,000. Hedge funds and other institutional investors own 33.49% of the company’s stock.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.

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