Zscaler (NASDAQ:ZS) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Zscaler (NASDAQ:ZS) announced its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05, Briefing.com reports. The firm had revenue of $197.07 million during the quarter, compared to the consensus estimate of $187.44 million. Zscaler had a negative return on equity of 36.46% and a negative net margin of 38.30%. The business’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.34) EPS.

ZS opened at $280.22 on Friday. The firm has a market capitalization of $38.39 billion, a P/E ratio of -162.92 and a beta of 0.80. The stock’s 50 day moving average price is $245.77 and its two-hundred day moving average price is $208.61. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.77. Zscaler has a 12-month low of $120.34 and a 12-month high of $293.44.

In other Zscaler news, insider Amit Sinha sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $281.58, for a total value of $1,971,060.00. Following the sale, the insider now owns 268,318 shares of the company’s stock, valued at approximately $75,552,982.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Blasing sold 2,000 shares of Zscaler stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $277.31, for a total value of $554,620.00. The disclosure for this sale can be found here. Insiders sold a total of 98,775 shares of company stock worth $22,635,330 in the last ninety days. Insiders own 21.40% of the company’s stock.

A hedge fund recently raised its stake in Zscaler stock. Morgan Stanley increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,900 shares of the company’s stock after buying an additional 6,365 shares during the quarter. Morgan Stanley owned 0.25% of Zscaler worth $74,520,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 37.59% of the company’s stock.

Several equities research analysts recently issued reports on the company. BMO Capital Markets raised Zscaler from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $202.00 to $225.00 in a research note on Wednesday, May 26th. Piper Sandler increased their price objective on Zscaler from $235.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday. They noted that the move was a valuation call. UBS Group increased their price objective on Zscaler from $225.00 to $295.00 and gave the stock a “neutral” rating in a research note on Friday. KGI Securities began coverage on Zscaler in a research note on Friday, July 2nd. They set a “hold” rating for the company. Finally, Mizuho raised their price target on Zscaler from $280.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zscaler has a consensus rating of “Buy” and a consensus price target of $264.42.

About Zscaler

Zscaler, Inc engages in the provision of cloud-based internet security platform. It provides four integrated and comprehensive solutions to customers using cloud platform, the Zscaler Zero Trust Exchange. The firm offers Zcaler internet access, private access, and platform. The company was founded by Jay Chaudhry and K.

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Earnings History for Zscaler (NASDAQ:ZS)

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