Zscaler (NASDAQ:ZS) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Zscaler (NASDAQ:ZS) announced its earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.06, Morningstar.com reports. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. The business had revenue of $86.11 million during the quarter, compared to the consensus estimate of $82.15 million. Zscaler updated its Q1 2020 guidance to $0.00-0.01 EPS and its FY 2020 guidance to $0.12-0.15 EPS.

Shares of NASDAQ:ZS opened at $49.59 on Friday. The business has a 50 day moving average price of $76.08 and a 200 day moving average price of $72.13. Zscaler has a twelve month low of $30.72 and a twelve month high of $89.54. The company has a market cap of $7.74 billion, a price-to-earnings ratio of -413.25 and a beta of 1.29.

In other Zscaler news, Director Karen Blasing sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $77.12, for a total value of $77,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Amit Sinha sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $80.78, for a total value of $1,454,040.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,774 shares of company stock valued at $15,730,959. 27.40% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in ZS. Geode Capital Management LLC increased its stake in shares of Zscaler by 92.5% in the 4th quarter. Geode Capital Management LLC now owns 432,787 shares of the company’s stock valued at $16,969,000 after buying an additional 207,920 shares during the period. Bank of Montreal Can increased its holdings in shares of Zscaler by 140.3% during the first quarter. Bank of Montreal Can now owns 5,404 shares of the company’s stock worth $384,000 after buying an additional 3,155 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Zscaler during the first quarter worth $195,000. Dupont Capital Management Corp acquired a new position in shares of Zscaler during the first quarter worth $361,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Zscaler by 26.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,223 shares of the company’s stock worth $1,576,000 after buying an additional 4,610 shares in the last quarter. Institutional investors own 33.49% of the company’s stock.

Several research firms recently weighed in on ZS. BMO Capital Markets dropped their price target on Zscaler from $100.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. Barclays dropped their target price on Zscaler from $80.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Deutsche Bank upped their price target on Zscaler from $57.00 to $76.00 and gave the stock a “hold” rating in a research note on Wednesday, May 29th. Robert W. Baird decreased their price target on Zscaler from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Cowen decreased their price target on Zscaler from $85.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $67.50.

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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Earnings History for Zscaler (NASDAQ:ZS)

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