Zscaler (ZS) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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.



Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Zscaler by 6.5% in the third quarter. Vanguard Group Inc. now owns 1,113,421 shares of the company’s stock valued at $45,405,000 after purchasing an additional 68,139 shares in the last quarter. Morgan Stanley increased its holdings in shares of Zscaler by 25.6% in the third quarter. Morgan Stanley now owns 128,592 shares of the company’s stock valued at $5,244,000 after purchasing an additional 26,190 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Zscaler by 2,077.9% in the third quarter. Legal & General Group Plc now owns 306,477 shares of the company’s stock valued at $12,498,000 after purchasing an additional 292,405 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Zscaler by 366.5% in the third quarter. TIAA CREF Investment Management LLC now owns 3,363,453 shares of the company’s stock valued at $137,162,000 after purchasing an additional 2,642,516 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Zscaler by 3,428.6% in the third quarter. Teachers Advisors LLC now owns 916,167 shares of the company’s stock valued at $37,361,000 after purchasing an additional 890,203 shares in the last quarter. 24.46% of the stock is owned by institutional investors.

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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About Zscaler

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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