Wedbush Weighs in on Zscaler Inc’s Q2 2019 Earnings (ZS)

Zscaler Inc (NASDAQ:ZS) – Stock analysts at Wedbush lifted their Q2 2019 EPS estimates for Zscaler in a research note issued to investors on Wednesday, December 5th. Wedbush analyst D. Ives now forecasts that the company will earn ($0.09) per share for the quarter, up from their previous forecast of ($0.12). Wedbush has a “Outperform” rating and a $48.00 price target on the stock. Wedbush also issued estimates for Zscaler’s Q3 2019 earnings at ($0.06) EPS, FY2019 earnings at ($0.27) EPS and FY2020 earnings at ($0.12) EPS.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, December 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $63.30 million during the quarter, compared to analysts’ expectations of $58.66 million. Zscaler’s revenue was up 58.6% compared to the same quarter last year.



A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Zscaler from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Robert W. Baird restated an “outperform” rating on shares of Zscaler in a report on Thursday, October 18th. BTIG Research cut Zscaler from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a report on Monday, September 10th. They noted that the move was a valuation call. Needham & Company LLC increased their target price on Zscaler from $45.00 to $47.50 and gave the company a “strong-buy” rating in a report on Thursday, September 6th. Finally, Morgan Stanley increased their target price on Zscaler from $31.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $37.58.

ZS opened at $42.98 on Friday. Zscaler has a 12-month low of $24.76 and a 12-month high of $48.24. The stock has a market capitalization of $4.54 billion and a PE ratio of -138.65.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in Zscaler by 17.5% during the 3rd quarter. FMR LLC now owns 6,179,451 shares of the company’s stock valued at $251,998,000 after purchasing an additional 919,305 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Zscaler by 366.5% during the 3rd 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 during the last quarter. JPMorgan Chase & Co. raised its position in Zscaler by 16.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,649,765 shares of the company’s stock valued at $67,277,000 after purchasing an additional 231,351 shares during the last quarter. BlackRock Inc. raised its position in Zscaler by 33.8% during the 3rd quarter. BlackRock Inc. now owns 1,268,626 shares of the company’s stock valued at $51,735,000 after purchasing an additional 320,565 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in Zscaler by 5,565.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,176,346 shares of the company’s stock valued at $47,971,000 after purchasing an additional 1,155,583 shares during the last quarter. 24.46% of the stock is owned by institutional investors and hedge funds.

In other Zscaler news, Director Andrew William Fraser Brown sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $40.61, for a total transaction of $1,421,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Manoj Apte sold 107,544 shares of the company’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 value of $4,503,942.72. The disclosure for this sale can be found here. Insiders have sold a total of 285,228 shares of company stock valued at $11,535,607 over the last 90 days. 27.40% of the stock is currently owned by company insiders.

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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