Zscaler (NASDAQ:ZS) posted its earnings results on Tuesday. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.06, Morningstar.com reports. Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. The business had revenue of $86.11 million for the quarter, compared to analyst estimates of $82.15 million. Zscaler updated its Q1 2020 guidance to $0.00-0.01 EPS and its FY 2020 guidance to $0.12-0.15 EPS.
Zscaler stock traded down $13.48 during trading hours on Wednesday, hitting $48.12. 5,074,525 shares of the company traded hands, compared to its average volume of 2,584,744. Zscaler has a 1-year low of $30.72 and a 1-year high of $89.54. The firm has a market cap of $7.79 billion, a P/E ratio of -155.23 and a beta of 1.29. The firm’s 50-day simple moving average is $76.74 and its two-hundred day simple moving average is $72.13.
Several analysts recently weighed in on the stock. Deutsche Bank lifted their price objective on shares of Zscaler from $57.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, May 29th. Wedbush decreased their target price on shares of Zscaler from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Jaffray Companies dropped their price target on shares of Zscaler from $82.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday. Rosenblatt Securities began coverage on shares of Zscaler in a research note on Monday. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, Berenberg Bank started coverage on Zscaler in a report on Friday, May 31st. They set a “hold” rating and a $78.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Zscaler has a consensus rating of “Hold” and a consensus price target of $69.19.
In other news, insider Robert Schlossman sold 1,213 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $77.80, for a total value of $94,371.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amit Sinha sold 4,807 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $65.52, for a total value of $314,954.64. Following the transaction, the insider now directly owns 127,664 shares of the company’s stock, valued at approximately $8,364,545.28. The disclosure for this sale can be found here. Insiders have sold a total of 287,113 shares of company stock worth $23,507,372 over the last 90 days. 27.40% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Zscaler by 92.5% in the fourth quarter. Geode Capital Management LLC now owns 432,787 shares of the company’s stock valued at $16,969,000 after buying an additional 207,920 shares in the last quarter. Bank of Montreal Can grew its position in Zscaler by 140.3% in the first quarter. Bank of Montreal Can now owns 5,404 shares of the company’s stock worth $384,000 after acquiring an additional 3,155 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Zscaler during the 1st quarter valued at about $195,000. Dupont Capital Management Corp bought a new position in Zscaler in the first quarter worth $361,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Zscaler by 26.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 22,223 shares of the company’s stock worth $1,576,000 after purchasing an additional 4,610 shares during the period. 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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