Zscaler (NASDAQ:ZS) Issues Q4 2022 Earnings Guidance

Zscaler (NASDAQ:ZS – Get Rating) updated its fourth quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $0.20-$0.21 for the period, compared to the consensus EPS 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.

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Zscaler from $320.00 to $265.00 and set an underweight rating for the company in a research report on Friday, February 25th. Wells Fargo & Company lowered their price target 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. Citigroup lowered their price target on shares of Zscaler from $295.00 to $225.00 in a research report on Friday, May 27th. Piper Sandler lowered their price target on shares of Zscaler from $260.00 to $160.00 in a research report on Friday, May 27th. Finally, Loop Capital reduced their price objective on shares of Zscaler from $360.00 to $245.00 in a research note on Friday, February 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Zscaler currently has a consensus rating of Moderate Buy and an average target price of $248.26.

Shares of ZS stock traded up $13.32 during trading hours on Thursday, hitting $162.43. The company’s stock had a trading volume of 84,439 shares, compared to its average volume of 2,537,111. The company has a 50 day moving average of $168.61 and a 200 day moving average of $227.21. The stock has a market cap of $23.04 billion, a PE ratio of -59.67 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. Zscaler has a 12-month low of $125.12 and a 12-month high of $376.11.

Zscaler (NASDAQ:ZS – Get Rating) last announced 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 firm had revenue of $286.81 million for the quarter, compared to the consensus estimate of $271.47 million. During the same period in the prior year, the firm posted ($0.30) earnings per share. The firm’s quarterly revenue was up 62.6% compared to the same quarter last year. As a group, analysts anticipate that Zscaler will post -2.32 earnings per share for the current fiscal year.

In other Zscaler news, insider Robert Schlossman sold 239 shares of the stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $150.00, for a total transaction of $35,850.00. Following the transaction, the insider now directly owns 112,622 shares of the company’s stock, valued at $16,893,300. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Amit Sinha sold 6,000 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $250.89, for a total transaction of $1,505,340.00. Following the transaction, the president now directly owns 275,860 shares in the company, valued at $69,210,515.40. The disclosure for this sale can be found here. Insiders have sold 58,710 shares of company stock worth $9,530,642 over the last three months. 20.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new stake in shares of Zscaler in the first quarter valued at about $168,365,000. Worldquant Millennium Advisors LLC raised its position in shares of Zscaler by 3,171.7% in the first quarter. Worldquant Millennium Advisors LLC now owns 85,588 shares of the company’s stock valued at $20,651,000 after buying an additional 82,972 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zscaler by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock valued at $134,476,000 after buying an additional 68,982 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Zscaler by 0.9% in the first quarter. Vanguard Group Inc. now owns 7,611,843 shares of the company’s stock valued at $1,836,586,000 after buying an additional 68,301 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Zscaler by 3,960.4% in the first quarter. Canada Pension Plan Investment Board now owns 63,018 shares of the company’s stock valued at $15,205,000 after buying an additional 61,466 shares during the last quarter. 43.41% of the stock is currently owned by institutional investors and hedge funds.

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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