Zscaler (NASDAQ:ZS) issued its earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06, Morningstar.com reports. The business had revenue of $86.11 million during 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.
Zscaler stock opened at $48.91 on Wednesday. The company has a 50-day moving average price of $76.74 and a 200 day moving average price of $72.13. Zscaler has a 12-month low of $30.72 and a 12-month high of $89.54. The stock has a market cap of $7.79 billion, a P/E ratio of -152.81 and a beta of 1.29.
In other news, insider Manoj Apte sold 95,544 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $84.91, for a total transaction of $8,112,641.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amit Sinha sold 4,807 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 of the company’s stock, valued at $8,364,545.28. The disclosure for this sale can be found here. Insiders have sold 287,113 shares of company stock worth $23,507,372 over the last ninety days. 27.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mastrapasqua Asset Management Inc. increased its holdings in Zscaler by 0.3% in the 2nd quarter. Mastrapasqua Asset Management Inc. now owns 54,585 shares of the company’s stock valued at $4,183,000 after purchasing an additional 175 shares during the last quarter. Tocqueville Asset Management L.P. lifted its stake in Zscaler by 1.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 19,035 shares of the company’s stock worth $1,459,000 after acquiring an additional 185 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Zscaler by 2.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,547 shares of the company’s stock worth $732,000 after acquiring an additional 190 shares in the last quarter. CSat Investment Advisory L.P. purchased a new position in Zscaler during the 2nd quarter valued at about $25,000. Finally, Tortoise Index Solutions LLC purchased a new position in Zscaler during the 1st quarter valued at about $25,000. Hedge funds and other institutional investors own 33.49% of the company’s stock.
A number of research firms recently weighed in on ZS. Piper Jaffray Companies lowered their price target on shares of Zscaler from $82.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley cut their price objective on shares of Zscaler to $47.00 and set an “underweight” rating for the company in a report on Wednesday. UBS Group increased their price objective on shares of Zscaler from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Rosenblatt Securities started coverage on shares of Zscaler in a research note on Monday. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, ValuEngine cut Zscaler from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $69.19.
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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