Zscaler (NASDAQ:ZS) announced its quarterly earnings data on Tuesday. The company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.06, Morningstar.com reports. The business had revenue of $86.11 million for the quarter, compared to analysts’ expectations of $82.15 million. Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. Zscaler updated its Q1 2020 guidance to $0.00-0.01 EPS and its FY 2020 guidance to $0.12-0.15 EPS.
Shares of NASDAQ ZS traded down $0.08 during midday trading on Thursday, hitting $49.59. The stock had a trading volume of 251,088 shares, compared to its average volume of 2,385,337. The business’s 50 day moving average is $76.08 and its 200-day moving average is $72.13. The company has a market cap of $7.79 billion, a P/E ratio of -160.68 and a beta of 1.29. Zscaler has a 52 week low of $30.72 and a 52 week high of $89.54.
A number of equities research analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of Zscaler from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday. Berenberg Bank assumed coverage on shares of Zscaler in a report on Friday, May 31st. They issued a “hold” rating and a $78.00 price objective on the stock. Piper Jaffray Companies cut their price objective on shares of Zscaler from $82.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays cut their price objective on shares of Zscaler from $80.00 to $54.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Cowen cut their price objective on shares of Zscaler from $85.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.50.
In related news, insider Amit Sinha sold 4,807 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $65.52, for a total transaction of $314,954.64. Following the transaction, the insider now owns 127,664 shares in the company, valued at $8,364,545.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Blasing sold 1,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $77.12, for a total transaction of $77,120.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,774 shares of company stock worth $15,730,959. Insiders own 27.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of ZS. Stevens Capital Management LP purchased a new stake in Zscaler during the second quarter valued at approximately $268,000. Aperio Group LLC increased its holdings in Zscaler by 100.8% during the second quarter. Aperio Group LLC now owns 5,840 shares of the company’s stock valued at $448,000 after buying an additional 2,932 shares during the last quarter. Baldwin Brothers Inc. MA purchased a new stake in Zscaler during the second quarter valued at approximately $77,000. First Trust Advisors LP increased its holdings in Zscaler by 474.2% during the first 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 last quarter. Finally, Advisor Group Inc. increased its holdings in Zscaler by 22.5% during the second quarter. Advisor Group Inc. now owns 33,276 shares of the company’s stock valued at $2,550,000 after buying an additional 6,120 shares during the last quarter. 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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