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

Zscaler (NASDAQ:ZSGet 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.

Further Reading

Earnings History for Zscaler (NASDAQ:ZS)

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