Zacks: Brokerages Expect Zscaler Inc (ZS) Will Post Earnings of -$0.01 Per Share

Wall Street analysts expect Zscaler Inc (NASDAQ:ZS) to announce earnings per share (EPS) of ($0.01) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Zscaler’s earnings. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, February 28th.

According to Zacks, analysts expect that Zscaler will report full year earnings of ($0.02) per share for the current financial year, with EPS estimates ranging from ($0.02) to ($0.01). For the next financial year, analysts expect that the business will post earnings of $0.06 per share, with EPS estimates ranging from $0.00 to $0.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Zscaler.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, December 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The business had revenue of $63.30 million for the quarter, compared to analyst estimates of $58.66 million. The company’s quarterly revenue was up 58.6% compared to the same quarter last year.

Several research firms recently issued reports on ZS. Morgan Stanley raised their price objective on shares of Zscaler from $40.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 6th. Guggenheim assumed coverage on shares of Zscaler in a research note on Monday, December 10th. They set a “neutral” rating and a $40.00 target price for the company. Piper Jaffray Companies assumed coverage on shares of Zscaler in a research note on Friday, January 11th. They set an “overweight” rating and a $50.00 target price for the company. Wedbush assumed coverage on shares of Zscaler in a research note on Thursday, October 18th. They set an “outperform” rating and a $48.00 target price for the company. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of Zscaler in a research note on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $38.57.

In related news, insider Robert Schlossman sold 1,562 shares of Zscaler stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $39.16, for a total value of $61,167.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amit Sinha sold 4,807 shares of Zscaler stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $40.43, for a total transaction of $194,347.01. The disclosure for this sale can be found here. In the last three months, insiders sold 239,790 shares of company stock valued at $10,791,992. Insiders own 27.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of ZS. Bank of New York Mellon Corp lifted its stake in Zscaler by 299.5% in the second quarter. Bank of New York Mellon Corp now owns 43,202 shares of the company’s stock worth $1,544,000 after acquiring an additional 32,389 shares during the last quarter. BlackRock Inc. raised its holdings in Zscaler by 23,211.1% during the second quarter. BlackRock Inc. now owns 948,061 shares of the company’s stock worth $33,893,000 after purchasing an additional 943,994 shares in the last quarter. FMR LLC raised its holdings in Zscaler by 305.1% during the second quarter. FMR LLC now owns 5,260,146 shares of the company’s stock worth $188,050,000 after purchasing an additional 3,961,759 shares in the last quarter. Raymond James & Associates acquired a new stake in Zscaler during the second quarter worth approximately $255,000. Finally, Bank of America Corp DE raised its holdings in Zscaler by 1,214.7% during the second quarter. Bank of America Corp DE now owns 35,982 shares of the company’s stock worth $1,286,000 after purchasing an additional 33,245 shares in the last quarter. Institutional investors own 24.63% of the company’s stock.

Shares of NASDAQ ZS traded up $0.64 during mid-day trading on Monday, reaching $49.10. The company’s stock had a trading volume of 21,762 shares, compared to its average volume of 1,388,421. The stock has a market capitalization of $5.94 billion and a price-to-earnings ratio of -158.39. Zscaler has a 1-year low of $24.76 and a 1-year high of $49.95.

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.

Recommended Story: What are the risks of holding treasury bonds?

Get a free copy of the Zacks research report on Zscaler (ZS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply