Zscaler (NASDAQ:ZS) Posts Earnings Results, Beats Estimates By $0.06 EPS
Zscaler (NASDAQ:ZS) posted its earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06, Morningstar.com reports. The firm had revenue of $86.11 million during the quarter, compared to analysts’ expectations of $82.15 million. Zscaler had a negative net margin of 9.46% and a negative return on equity of 9.78%. Zscaler updated its Q1 2020 guidance to $0.00-0.01 EPS and its FY 2020 guidance to $0.12-0.15 EPS.
NASDAQ ZS opened at $49.59 on Friday. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of -413.25 and a beta of 1.29. Zscaler has a one year low of $30.72 and a one year high of $89.54. The business’s fifty day moving average is $76.08 and its 200-day moving average is $72.13.
ZS has been the subject of a number of research reports. Cowen dropped their price objective on shares of Zscaler from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley dropped their price objective on shares of Zscaler to $47.00 and set an “underweight” rating for the company in a report on Wednesday. Deutsche Bank raised their price objective on shares of Zscaler from $57.00 to $76.00 and gave the company a “hold” rating in a report on Wednesday, May 29th. Credit Suisse Group reiterated an “outperform” rating and issued a $70.00 price objective (down previously from $78.00) on shares of Zscaler in a report on Wednesday. Finally, Zacks Investment Research lowered shares of Zscaler from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $67.50.
A number of hedge funds have recently bought and sold shares of ZS. Stevens Capital Management LP purchased a new position in shares of Zscaler during the second quarter worth about $268,000. Aperio Group LLC grew its holdings in shares of Zscaler by 100.8% during the second quarter. Aperio Group LLC now owns 5,840 shares of the company’s stock worth $448,000 after purchasing an additional 2,932 shares in the last quarter. Baldwin Brothers Inc. MA purchased a new position in shares of Zscaler during the second quarter worth about $77,000. First Trust Advisors LP grew its holdings in shares of Zscaler by 474.2% during the first quarter. First Trust Advisors LP now owns 586,138 shares of the company’s stock worth $41,575,000 after purchasing an additional 484,056 shares in the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Zscaler by 22.5% during the second quarter. Advisor Group Inc. now owns 33,276 shares of the company’s stock worth $2,550,000 after purchasing an additional 6,120 shares in the last quarter. 33.49% of the stock is owned by institutional investors and hedge funds.
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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