Zscaler (NASDAQ:ZS) Announces Earnings Results, Beats Expectations By $0.18 EPS

Zscaler (NASDAQ:ZS) posted its quarterly earnings data on Tuesday. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18, Briefing.com reports. The business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share.

Zscaler Price Performance

Shares of Zscaler stock opened at $193.19 on Wednesday. The firm has a market cap of $29.20 billion, a PE ratio of -378.80 and a beta of 0.85. The company’s fifty day simple moving average is $189.34 and its two-hundred day simple moving average is $188.72. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler has a 12-month low of $146.59 and a 12-month high of $259.61.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 19.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Raymond James started coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating for the company. Stifel Nicolaus reduced their price objective on Zscaler from $270.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Wells Fargo & Company restated an “equal weight” rating and issued a $182.00 target price (down from $275.00) on shares of Zscaler in a research note on Tuesday, May 28th. Barclays lifted their price objective on Zscaler from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a report on Monday, June 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $223.53.

Zscaler Company Profile

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.