Zscaler (NASDAQ:ZS) Releases Q4 2022 Earnings Guidance

Zscaler (NASDAQ:ZSGet Rating) updated its fourth quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.20-$0.21 for the period, compared to the consensus estimate of $0.17. The company issued revenue guidance of $304.00 million-$306.00 million, compared to the consensus revenue estimate of $291.02 million. Zscaler also updated its FY 2022 guidance to $0.64-$0.65 EPS.

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Zscaler from $350.00 to $200.00 and set a na rating on the stock in a research note on Monday, May 16th. Barclays raised their price target on shares of Zscaler from $147.00 to $168.00 and gave the stock an equal weight rating in a research report on Friday, May 27th. Canaccord Genuity Group decreased their price target on shares of Zscaler from $320.00 to $210.00 in a research report on Friday, May 27th. Piper Sandler decreased their price target on shares of Zscaler from $260.00 to $160.00 in a research report on Friday, May 27th. Finally, The Goldman Sachs Group decreased their price target on shares of Zscaler from $326.00 to $281.00 and set a neutral rating on the stock in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $248.26.

Shares of NASDAQ ZS opened at $149.11 on Thursday. Zscaler has a 1-year low of $125.12 and a 1-year high of $376.11. The company has a market cap of $21.15 billion, a PE ratio of -55.85 and a beta of 1.12. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average of $168.61 and a two-hundred day moving average of $227.21.

Zscaler (NASDAQ:ZSGet Rating) last announced its earnings results on Thursday, May 26th. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.02. Zscaler had a negative net margin of 38.52% and a negative return on equity of 58.37%. The company had revenue of $286.81 million during the quarter, compared to the consensus estimate of $271.47 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The company’s revenue was up 62.6% on a year-over-year basis. As a group, equities research analysts forecast that Zscaler will post -2.32 earnings per share for the current year.

In other news, President Amit Sinha sold 9,975 shares of Zscaler stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $136.67, for a total transaction of $1,363,283.25. Following the completion of the sale, the president now owns 266,124 shares in the company, valued at approximately $36,371,167.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Dali Rajic sold 25,000 shares of Zscaler stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $155.80, for a total transaction of $3,895,000.00. Following the sale, the chief operating officer now owns 231,574 shares of the company’s stock, valued at approximately $36,079,229.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,710 shares of company stock valued at $9,530,642. Insiders own 20.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salem Investment Counselors Inc. acquired a new position in Zscaler during the first quarter valued at approximately $221,000. AlphaCrest Capital Management LLC acquired a new position in Zscaler during the first quarter valued at approximately $244,000. D.A. Davidson & CO. grew its holdings in Zscaler by 41.6% during the first quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock valued at $273,000 after purchasing an additional 332 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Zscaler during the first quarter valued at approximately $298,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Zscaler in the first quarter valued at approximately $323,000. Hedge funds and other institutional investors own 43.41% of the company’s stock.

Zscaler Company Profile (Get Rating)

Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.

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