Zscaler (NASDAQ:ZS) Updates FY 2020 Earnings Guidance

Zscaler (NASDAQ:ZS) updated its FY 2020 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.12-0.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.19. The company issued revenue guidance of $395-405 million, compared to the consensus revenue estimate of $402.93 million.Zscaler also updated its Q1 2020 guidance to $0.00-0.01 EPS.

A number of analysts have recently weighed in on the stock. Rosenblatt Securities assumed coverage on shares of Zscaler in a research report on Monday. They set a neutral rating and a $65.00 price target for the company. ValuEngine downgraded shares of Zscaler from a buy rating to a hold rating in a research report on Thursday, August 1st. BMO Capital Markets decreased their price target on shares of Zscaler from $100.00 to $60.00 and set a market perform rating for the company in a research report on Wednesday. They noted that the move was a valuation call. Credit Suisse Group restated an outperform rating and set a $70.00 price objective (down from $78.00) on shares of Zscaler in a research note on Wednesday. Finally, Wedbush reduced their price objective on Zscaler from $90.00 to $80.00 and set an outperform rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $67.50.

Shares of ZS opened at $49.59 on Friday. The business’s fifty day moving average price is $76.08 and its 200 day moving average price is $72.13. Zscaler has a 12-month low of $30.72 and a 12-month high of $89.54. The stock has a market capitalization of $7.74 billion, a PE ratio of -413.25 and a beta of 1.29.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. The firm had revenue of $86.11 million for the quarter, compared to analysts’ expectations of $82.15 million. Sell-side analysts predict that Zscaler will post -0.24 EPS for the current year.

In other Zscaler news, insider Amit Sinha sold 4,807 shares of the firm’s 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 sale, the insider now directly owns 127,664 shares in the company, valued at $8,364,545.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Blasing sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $68.09, for a total value of $68,090.00. Following the completion of the sale, the director now owns 3,595 shares in the company, valued at $244,783.55. The disclosure for this sale can be found here. Insiders sold 189,774 shares of company stock worth $15,730,959 over the last quarter. 27.40% of the stock is currently owned by company insiders.

About Zscaler

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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