Zscaler (NASDAQ:ZS) Announces Quarterly Earnings Results

Zscaler (NASDAQ:ZS) posted its quarterly earnings results on Monday. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14, RTT News reports. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the prior year, the business earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis.

Zscaler Stock Performance

NASDAQ:ZS opened at $208.51 on Tuesday. The business has a 50 day moving average of $190.12 and a 200 day moving average of $184.80. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last ninety days. Insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. upped their price target on Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group lifted their price objective on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. BTIG Research upped their price objective on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Oppenheimer reduced their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.13.

About Zscaler

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.