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

Zscaler (NASDAQ:ZS – Get Rating) posted its quarterly earnings data on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06, MarketWatch Earnings reports. Zscaler had a negative return on equity of 51.11% and a negative net margin of 38.47%. The business had revenue of $286.81 million during the quarter, compared to the consensus estimate of $271.47 million. During the same quarter in the prior year, the company earned ($0.30) earnings per share. The firm’s quarterly revenue was up 62.6% compared to the same quarter last year.

NASDAQ:ZS opened at $142.13 on Friday. The business’s 50-day moving average is $199.67 and its 200 day moving average is $252.52. Zscaler has a 12 month low of $125.12 and a 12 month high of $376.11. The company has a market capitalization of $20.05 billion, a P/E ratio of -59.72 and a beta of 1.09. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.74.

In other Zscaler news, CFO Remo Canessa sold 4,696 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $203.09, for a total transaction of $953,710.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Karen Blasing sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the completion of the sale, the director now directly owns 2,381 shares of the company’s stock, valued at approximately $595,250. The disclosure for this sale can be found here. Insiders have sold a total of 36,779 shares of company stock valued at $7,896,977 in the last 90 days. 20.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in ZS. EverSource Wealth Advisors LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at $80,000. Silvercrest Asset Management Group LLC purchased a new stake in Zscaler in the 4th quarter valued at about $215,000. Cetera Investment Advisers bought a new position in Zscaler in the 4th quarter worth about $288,000. Salem Investment Counselors Inc. bought a new position in Zscaler in the 1st quarter worth about $221,000. Finally, AlphaCrest Capital Management LLC purchased a new position in shares of Zscaler during the first quarter worth approximately $244,000. Institutional investors and hedge funds own 43.41% of the company’s stock.

ZS has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Zscaler from $147.00 to $168.00 in a research note on Friday. Truist Financial dropped their price objective on Zscaler from $335.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, May 10th. BMO Capital Markets reduced their price objective on Zscaler from $270.00 to $172.00 in a report on Friday. Credit Suisse Group lowered their target price on shares of Zscaler from $410.00 to $310.00 in a research note on Friday. Finally, Morgan Stanley reduced their price target on shares of Zscaler from $325.00 to $225.00 and set an “overweight” rating for the company in a research note on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $258.40.

About Zscaler (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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