Zscaler (NASDAQ:ZS) Updates FY 2022 Earnings Guidance

Zscaler (NASDAQ:ZSGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $0.64-$0.65 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $1.08 billion-$1.08 billion, compared to the consensus revenue estimate of $1.05 billion. Zscaler also updated its Q4 2022 guidance to $0.20-$0.21 EPS.

ZS has been the subject of several research reports. Wells Fargo & Company cut their target price on shares of Zscaler from $350.00 to $200.00 and set a na rating for the company in a research report on Monday, May 16th. Canaccord Genuity Group cut their target price on shares of Zscaler from $320.00 to $210.00 in a research report on Friday, May 27th. Wolfe Research cut their target price on shares of Zscaler from $340.00 to $275.00 and set an outperform rating for the company in a research report on Friday, February 25th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Zscaler from $280.00 to $190.00 in a research report on Friday, May 27th. Finally, FBN Securities cut their target price on shares of Zscaler from $400.00 to $300.00 and set an outperform rating for the company in a research report on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $248.26.

Shares of Zscaler stock traded up $13.32 during trading on Thursday, reaching $162.43. 84,439 shares of the stock were exchanged, compared to its average volume of 2,537,111. Zscaler has a 1 year low of $125.12 and a 1 year high of $376.11. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of -59.67 and a beta of 1.12. The stock’s fifty day moving average is $168.61 and its 200 day moving average is $227.21. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.80.

Zscaler (NASDAQ:ZSGet Rating) last released its quarterly earnings results on Thursday, May 26th. The company reported ($0.61) earnings per share (EPS) 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 prior year, the firm earned ($0.30) earnings per share. Zscaler’s revenue was up 62.6% on a year-over-year basis. Equities analysts forecast that Zscaler will post -2.32 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Worldquant Millennium Advisors LLC increased its position in shares of Zscaler by 3,171.7% during the first quarter. Worldquant Millennium Advisors LLC now owns 85,588 shares of the company’s stock valued at $20,651,000 after acquiring an additional 82,972 shares in the last quarter. Walleye Capital LLC boosted its holdings in Zscaler by 321.6% in the first quarter. Walleye Capital LLC now owns 36,066 shares of the company’s stock worth $8,702,000 after purchasing an additional 27,511 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in Zscaler by 5.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 3,661 shares of the company’s stock worth $883,000 after purchasing an additional 189 shares during the last quarter. Beacon Pointe Advisors LLC boosted its holdings in Zscaler by 22.9% in the first quarter. Beacon Pointe Advisors LLC now owns 2,575 shares of the company’s stock worth $621,000 after purchasing an additional 479 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in Zscaler in the first quarter worth approximately $556,000. 43.41% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Zscaler (NASDAQ:ZS)

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