Morgan Stanley Has Lowered Expectations for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS - Get Free Report) had its price target cut by research analysts at Morgan Stanley from $205.00 to $200.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 3.25% from the company's current price.

Several other research analysts have also commented on the stock. UBS Group increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Jefferies Financial Group dropped their target price on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. BTIG Research set a $252.00 price objective on Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Mizuho increased their target price on Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Finally, Barclays reiterated an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $234.77.

Zscaler Price Performance

ZS traded down $7.39 during trading on Wednesday, reaching $193.70. 1,580,735 shares of the stock traded hands, compared to its average volume of 1,977,307. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The stock's 50-day simple moving average is $200.34 and its two-hundred day simple moving average is $196.60. The stock has a market cap of $29.97 billion, a price-to-earnings ratio of -774.80 and a beta of 1.12.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,234 shares of company stock worth $42,030,790. Company insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Zscaler

A number of large investors have recently made changes to their positions in ZS. Global X Japan Co. Ltd. increased its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after purchasing an additional 79 shares during the period. ORG Partners LLC lifted its holdings in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after acquiring an additional 94 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $27,000. Colonial Trust Co SC bought a new position in Zscaler in the fourth quarter valued at approximately $28,000. Finally, Stonebridge Financial Group LLC acquired a new position in Zscaler during the fourth quarter valued at approximately $29,000. 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.