Zscaler (NASDAQ:ZS) Announces Earnings Results

Zscaler (NASDAQ:ZS) issued its quarterly earnings results on Monday. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14, RTT News reports. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the previous year, the company posted ($0.18) earnings per share. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year.

Zscaler Stock Down 4.7 %

ZS stock opened at $198.64 on Wednesday. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of -794.56 and a beta of 0.82. The company’s fifty day simple moving average is $190.79 and its 200 day simple moving average is $185.01. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61.

Insiders Place Their Bets

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. Company insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZS. Piper Sandler raised their price target on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday. Loop Capital cut their price target on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday. Citigroup reduced their price target on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Guggenheim restated a “neutral” rating on shares of Zscaler in a research report on Tuesday. Finally, Barclays raised their target price on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.38.

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.