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

Several other equities research analysts also recently weighed in on the company. Barclays reduced their price target on Zscaler from $80.00 to $54.00 and set an equal weight rating on the stock in a report on Wednesday. Berenberg Bank started coverage on Zscaler in a report on Friday, May 31st. They issued a hold rating and a $78.00 price target on the stock. Wedbush reduced their price target on Zscaler from $90.00 to $80.00 and set an outperform rating on the stock in a report on Wednesday. UBS Group increased their price target on Zscaler from $60.00 to $70.00 and gave the stock a neutral rating in a report on Friday, May 31st. Finally, Cowen reduced their price target on Zscaler from $85.00 to $70.00 and set an outperform rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Zscaler currently has an average rating of Hold and an average price target of $67.50.

Shares of NASDAQ ZS opened at $47.48 on Wednesday. The business’s 50 day moving average price is $75.30 and its 200-day moving average price is $72.12. Zscaler has a fifty-two week low of $30.72 and a fifty-two week high of $89.54. The company has a market cap of $6.24 billion, a price-to-earnings ratio of -395.67 and a beta of 1.29.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.06. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. The firm had revenue of $86.11 million for the quarter, compared to the consensus estimate of $82.15 million. Research analysts expect that Zscaler will post -0.24 EPS for the current year.

In other Zscaler news, insider Robert Schlossman sold 1,213 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $77.80, for a total transaction of $94,371.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Amit Sinha sold 4,807 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $65.52, for a total value of $314,954.64. Following the sale, the insider now directly owns 127,664 shares in the company, valued at approximately $8,364,545.28. The disclosure for this sale can be found here. Insiders have sold a total of 189,774 shares of company stock worth $15,730,959 over the last 90 days. 27.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stevens Capital Management LP bought a new stake in Zscaler during the 2nd quarter valued at $268,000. Aperio Group LLC boosted its position in Zscaler by 100.8% during the 2nd quarter. Aperio Group LLC now owns 5,840 shares of the company’s stock valued at $448,000 after acquiring an additional 2,932 shares in the last quarter. Baldwin Brothers Inc. MA bought a new stake in Zscaler during the 2nd quarter valued at $77,000. First Trust Advisors LP boosted its position in Zscaler by 474.2% during the 1st quarter. First Trust Advisors LP now owns 586,138 shares of the company’s stock valued at $41,575,000 after acquiring an additional 484,056 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in Zscaler by 22.5% during the 2nd quarter. Advisor Group Inc. now owns 33,276 shares of the company’s stock valued at $2,550,000 after acquiring an additional 6,120 shares in the last quarter. 33.49% of the stock is currently owned by institutional investors and hedge funds.

About Zscaler

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.

Read More: Understanding the Price to Earnings Ratio (PE)

The Fly

Analyst Recommendations for Zscaler (NASDAQ:ZS)

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