Zscaler (NASDAQ:ZS) Now Covered by Morgan Stanley

Morgan Stanley initiated coverage on shares of Zscaler (NASDAQ:ZS) in a research note issued on Tuesday. The firm set an “equal weight” rating on the stock.

Several other brokerages have also issued reports on ZS. Citigroup reaffirmed a “buy” rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Zscaler in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wedbush upped their target price on Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus target price of $233.88.

Zscaler Price Performance

NASDAQ ZS traded down $4.41 during trading hours on Tuesday, reaching $198.24. 196,213 shares of the stock traded hands, compared to its average volume of 1,806,585. The stock has a 50 day simple moving average of $198.42 and a two-hundred day simple moving average of $191.63. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The company has a market cap of $30.67 billion, a price-to-earnings ratio of -792.95 and a beta of 0.88.

Institutional Trading of Zscaler

Several large investors have recently added to or reduced their stakes in ZS. OneDigital Investment Advisors LLC grew its position in Zscaler by 50.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the company’s stock worth $498,000 after acquiring an additional 983 shares during the period. Empowered Funds LLC lifted its holdings in shares of Zscaler by 3.5% in the 3rd quarter. Empowered Funds LLC now owns 19,578 shares of the company’s stock worth $3,347,000 after acquiring an additional 665 shares during the last quarter. Swiss National Bank grew its stake in Zscaler by 1.1% during the 3rd quarter. Swiss National Bank now owns 269,200 shares of the company’s stock worth $46,017,000 after purchasing an additional 2,900 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Zscaler during the third quarter worth approximately $1,787,000. Finally, Aviance Capital Partners LLC raised its holdings in Zscaler by 6.7% in the third quarter. Aviance Capital Partners LLC now owns 8,000 shares of the company’s stock valued at $1,368,000 after acquiring an additional 500 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.