$89.46 Million in Sales Expected for Zscaler Inc (NASDAQ:ZS) This Quarter

Brokerages predict that Zscaler Inc (NASDAQ:ZS) will report sales of $89.46 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Zscaler’s earnings. The lowest sales estimate is $89.30 million and the highest is $89.60 million. Zscaler reported sales of $63.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 41.3%. The business is scheduled to announce its next earnings report on Tuesday, December 3rd.

According to Zacks, analysts expect that Zscaler will report full-year sales of $401.86 million for the current financial year, with estimates ranging from $399.50 million to $405.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $517.03 million, with estimates ranging from $505.40 million to $536.99 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Zscaler.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. The business had revenue of $86.11 million during the quarter, compared to analyst estimates of $82.15 million. Zscaler had a negative return on equity of 9.46% and a negative net margin of 9.46%.

Several analysts have recently weighed in on ZS shares. Morgan Stanley cut their price objective on Zscaler to $47.00 and set an “underweight” rating for the company in a report on Wednesday, September 11th. UBS Group cut their price objective on Zscaler from $70.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Cowen cut their price objective on Zscaler from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. ValuEngine lowered Zscaler from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, OTR Global lowered Zscaler from a “mixed” rating to a “negative” rating in a report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $65.88.

In related news, Director Karen Blasing sold 1,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $84.87, for a total transaction of $84,870.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Manoj Apte sold 95,544 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $84.91, for a total value of $8,112,641.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,561 shares of company stock valued at $13,965,018. 27.40% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of ZS. Nuveen Asset Management LLC acquired a new position in Zscaler during the second quarter valued at $148,614,000. FMR LLC increased its position in Zscaler by 11.7% in the 1st quarter. FMR LLC now owns 7,160,253 shares of the company’s stock worth $507,877,000 after purchasing an additional 750,088 shares during the last quarter. Vanguard Group Inc. increased its position in Zscaler by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,739,352 shares of the company’s stock worth $363,224,000 after purchasing an additional 655,847 shares during the last quarter. First Trust Advisors LP increased its position in Zscaler by 474.2% in the 1st quarter. First Trust Advisors LP now owns 586,138 shares of the company’s stock worth $41,575,000 after purchasing an additional 484,056 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in Zscaler in the 1st quarter worth about $28,835,000. 32.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Zscaler stock traded up $0.24 during trading on Friday, hitting $49.21. The stock had a trading volume of 1,821,258 shares, compared to its average volume of 2,526,943. The firm has a market cap of $6.27 billion, a P/E ratio of -410.08 and a beta of 1.19. The business has a fifty day moving average of $60.42 and a two-hundred day moving average of $71.05. Zscaler has a fifty-two week low of $30.72 and a fifty-two week high of $89.54.

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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