Zscaler (NASDAQ:ZS) Announces Quarterly Earnings Results

Zscaler (NASDAQ:ZS) released its earnings results on Monday. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14, RTT News reports. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) EPS.

Zscaler Trading Up 0.9 %

ZS stock opened at $208.51 on Tuesday. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The company has a fifty day simple moving average of $190.12 and a two-hundred day simple moving average of $184.80.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group dropped their price target on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Morgan Stanley raised their price target on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Loop Capital reduced their price objective on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Stifel Nicolaus upped their target price on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $190.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.13.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This represents a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 in the last three months. Insiders own 18.10% of the company’s stock.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.