Zscaler (NASDAQ:ZS) released its earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01), Morningstar.com reports. The company had revenue of $63.30 million for the quarter, compared to analyst estimates of $58.66 million. Zscaler’s revenue was up 58.6% on a year-over-year basis.
NASDAQ ZS opened at $37.21 on Thursday. The company has a market cap of $4.79 billion and a PE ratio of -120.03. Zscaler has a 1-year low of $24.76 and a 1-year high of $48.24.
In other news, insider Manoj Apte sold 107,544 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $41.88, for a total transaction of $4,503,942.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amit Sinha sold 2,884 shares of the firm’s stock in a transaction that occurred on Sunday, November 25th. The stock was sold at an average price of $33.90, for a total transaction of $97,767.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 285,228 shares of company stock valued at $11,535,607. Company insiders own 27.40% of the company’s stock.
A number of brokerages have commented on ZS. Zacks Investment Research cut shares of Zscaler from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Needham & Company LLC raised their price target on shares of Zscaler from $45.00 to $47.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 6th. Credit Suisse Group raised their price target on shares of Zscaler from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, September 6th. Wedbush began coverage on shares of Zscaler in a research note on Thursday, October 18th. They set an “outperform” rating and a $48.00 price target for the company. Finally, BTIG Research cut shares of Zscaler from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research note on Monday, September 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Zscaler has a consensus rating of “Hold” and an average price target of $37.58.
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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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