Zscaler (NASDAQ:ZS) released its quarterly earnings data on Tuesday. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06, Morningstar.com reports. Zscaler had a negative return on equity of 10.95% and a negative net margin of 11.12%. The business had revenue of $86.11 million for the quarter, compared to the consensus estimate 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.
NASDAQ:ZS opened at $49.67 on Thursday. The stock’s 50 day moving average price is $76.08 and its 200 day moving average price is $72.13. The company has a market capitalization of $7.79 billion, a PE ratio of -160.23 and a beta of 1.29. Zscaler has a 52-week low of $30.72 and a 52-week high of $89.54.
ZS has been the topic of a number of recent analyst reports. Credit Suisse Group reiterated an “outperform” rating and issued a $70.00 price objective (down previously from $78.00) on shares of Zscaler in a report on Wednesday. Zacks Investment Research downgraded Zscaler from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. BMO Capital Markets dropped their price objective on Zscaler from $100.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday. They noted that the move was a valuation call. ValuEngine downgraded Zscaler from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Bank of America set a $77.00 price objective on Zscaler and gave the company a “neutral” rating in a report on Friday, May 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $68.56.
Several hedge funds have recently made changes to their positions in ZS. Nuveen Asset Management LLC acquired a new stake in shares of Zscaler in the 2nd quarter valued at approximately $148,614,000. FMR LLC lifted its holdings in shares of Zscaler by 11.7% in the 1st quarter. FMR LLC now owns 7,160,253 shares of the company’s stock valued at $507,877,000 after buying an additional 750,088 shares during the period. Vanguard Group Inc. lifted its holdings 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 buying an additional 655,847 shares during the period. First Trust Advisors LP lifted its holdings in shares of Zscaler by 474.2% in the 1st quarter. First Trust Advisors LP now owns 586,138 shares of the company’s stock valued at $41,575,000 after buying an additional 484,056 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Zscaler by 61.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,084,991 shares of the company’s stock valued at $76,958,000 after buying an additional 413,072 shares during the period. Institutional investors own 33.49% of the company’s stock.
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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