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

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Zscaler (NASDAQ:ZS) released its quarterly earnings data on Tuesday. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06, Morningstar.com reports. Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. The company had revenue of $86.11 million during the quarter, compared to analysts’ expectations of $82.15 million. Zscaler updated its Q1 2020 guidance to $0.00-0.01 EPS and its FY 2020 guidance to $0.12-0.15 EPS.

Shares of NASDAQ ZS traded down $13.48 during midday trading on Wednesday, reaching $48.12. 5,074,525 shares of the stock were exchanged, compared to its average volume of 2,584,744. The stock has a market capitalization of $7.79 billion, a P/E ratio of -155.23 and a beta of 1.29. The company has a 50 day simple moving average of $76.74 and a 200 day simple moving average of $72.13. Zscaler has a twelve month low of $30.72 and a twelve month high of $89.54.

In related news, insider Manoj Apte sold 95,544 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $84.91, for a total transaction of $8,112,641.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Amit Sinha sold 4,807 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $65.52, for a total value of $314,954.64. Following the transaction, the insider now directly owns 127,664 shares in the company, valued at approximately $8,364,545.28. The disclosure for this sale can be found here. Insiders sold 287,113 shares of company stock worth $23,507,372 in the last 90 days. Company insiders own 27.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZS. FMR LLC lifted its stake in Zscaler by 11.7% in the first quarter. FMR LLC now owns 7,160,253 shares of the company’s stock worth $507,877,000 after acquiring an additional 750,088 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Zscaler by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,739,352 shares of the company’s stock valued at $363,224,000 after purchasing an additional 655,847 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Zscaler by 0.4% in the 1st quarter. BlackRock Inc. now owns 3,698,605 shares of the company’s stock valued at $262,341,000 after purchasing an additional 13,259 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Zscaler by 19.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,453,763 shares of the company’s stock valued at $188,057,000 after purchasing an additional 400,253 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Zscaler during the 2nd quarter worth $148,614,000. 33.49% of the stock is owned by institutional investors.

Several brokerages recently weighed in on ZS. OTR Global lowered Zscaler from a “mixed” rating to a “negative” rating in a research note on Monday, August 19th. Zacks Investment Research downgraded Zscaler from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. ValuEngine lowered Zscaler from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “strong-buy” rating and issued a $89.00 price objective (up from $65.00) on shares of Zscaler in a research report on Friday, May 31st. Finally, Morgan Stanley reduced their target price on Zscaler to $47.00 and set an “underweight” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $69.19.

Zscaler Company Profile

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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Earnings History for Zscaler (NASDAQ:ZS)

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