Zscaler (NASDAQ: ZS – Get Rating) issued an update on its fourth quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $ 0.20- $ 0.21 for the period, compared to the consensus earnings per share 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.
Shares of NASDAQ: ZS opened at $ 149.11 on Thursday. The business’s 50 day simple moving average is $ 168.61 and its 200-day simple moving average is $ 227.21. The firm has a market capitalization of $ 21.15 billion, a price-to-earnings ratio of -55.85 and a beta of 1.12. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.24 and a quick ratio of 2.24. 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) EPS for the quarter, topping the consensus estimate of ($ 0.63) by $ 0.02. The business had revenue of $ 286.81 million for the quarter, compared to analyst estimates of $ 271.47 million. Zscaler had a negative return on equity of 58.37% and a negative net margin of 38.52%. The company’s quarterly revenue was up 62.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($ 0.30) EPS. On average, equities analysts anticipate that Zscaler will post -2.32 earnings per share for the current year.
Several equities research analysts have recently commented on ZS shares. Barclays boosted their price target on Zscaler from $ 147.00 to $ 168.00 and gave the stock an equal weight rating in a research note on Friday, May 27th. Piper Sandler cut their price objective on Zscaler from $ 260.00 to $ 160.00 in a research report on Friday, May 27th. Stephens started coverage on Zscaler in a research report on Wednesday, May 25th. They set an overweight rating and a $ 200.00 price objective for the company. BTIG Research cut their price objective on Zscaler from $ 326.00 to $ 184.00 and set a buy rating for the company in a research report on Friday, May 27th. Finally, Morgan Stanley cut their price objective on Zscaler from $ 325.00 to $ 225.00 and set an overweight rating for the company in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Zscaler has an average rating of Moderate Buy and a consensus price target of $ 248.26.
In related news, insider Robert Schlossman sold 239 shares of the company’s 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 completion of the sale, the insider now directly owns 112,622 shares of the company’s stock, valued at approximately $ 16,893,300. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Amit Sinha sold 6,000 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $ 250.89, for a total transaction of $ 1,505,340.00. Following the sale, the president now directly owns 275,860 shares of the company’s stock, valued at $ 69,210,515.40. The disclosure for this sale can be found here. Insiders have sold a total of 58,710 shares of the company’s stock valued at $ 9,530,642 over the last three months. Corporate insiders own 20.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in Zscaler in the 1st quarter valued at about $ 168,365,000. Worldquant Millennium Advisors LLC boosted its position in Zscaler by 3,171.7% in the 1st 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. boosted its position in Zscaler by 14.1% in the 1st 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. boosted its position in Zscaler by 0.9% in the 1st 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 boosted its position in Zscaler by 3,960.4% in the 1st 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 owned by hedge funds and other institutional investors.
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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