Zscaler (NASDAQ:ZS) issued an update on its first quarter 2020 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.00-0.01 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.02. The company issued revenue guidance of $89-90 million, compared to the consensus revenue estimate of $87.57 million.Zscaler also updated its FY 2020 guidance to $0.12-0.15 EPS.
ZS traded down $0.42 on Tuesday, hitting $61.60. 4,673,268 shares of the company were exchanged, compared to its average volume of 2,404,779. The stock’s fifty day moving average is $77.21 and its 200-day moving average is $72.07. Zscaler has a 12 month low of $30.72 and a 12 month high of $89.54. The company has a market cap of $8.05 billion, a PE ratio of -198.71 and a beta of 1.31.
Several research analysts have weighed in on the company. Berenberg Bank started coverage on Zscaler in a research report on Friday, May 31st. They set a hold rating and a $78.00 price objective on the stock. Needham & Company LLC reiterated a strong-buy rating and issued a $89.00 price objective (up previously from $65.00) on shares of Zscaler in a research note on Friday, May 31st. Cowen started coverage on shares of Zscaler in a research report on Thursday, May 23rd. They set an outperform rating and a $85.00 target price on the stock. Morgan Stanley lifted their price target on shares of Zscaler from $43.00 to $52.00 and gave the company an underweight rating in a research report on Friday, May 31st. Finally, ValuEngine cut Zscaler from a buy rating to a hold rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $73.71.
In related news, insider Amit Sinha sold 4,807 shares of the business’s stock in a transaction on 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 owns 127,664 shares in the company, valued at $8,364,545.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Karen Blasing sold 1,000 shares of the business’s stock in a transaction 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. Over the last ninety days, insiders have sold 287,113 shares of company stock valued at $23,507,372. 27.40% of the stock is owned by corporate insiders.
Zscaler Company Profile
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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