Zscaler (ZS) Issues FY 2019 Earnings Guidance

Zscaler (NASDAQ:ZS) updated its FY 2019 earnings guidance on Tuesday. The company provided EPS guidance of $-0.03–0.01 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.12. The company issued revenue guidance of $268-272 million, compared to the consensus revenue estimate of $258.79 million.Zscaler also updated its Q2 2019 guidance to $-0.02-0.00 EPS.

ZS has been the topic of a number of research analyst reports. BTIG Research downgraded Zscaler from a buy rating to a neutral rating and set a $33.00 price target on the stock. in a report on Monday, September 10th. They noted that the move was a valuation call. Needham & Company LLC boosted their price target on Zscaler from $45.00 to $47.50 and gave the company a strong-buy rating in a report on Thursday, September 6th. Zacks Investment Research upgraded Zscaler from a sell rating to a hold rating in a report on Wednesday, September 12th. Morgan Stanley boosted their price target on Zscaler from $31.00 to $41.00 and gave the company an equal weight rating in a report on Thursday, September 6th. Finally, Credit Suisse Group boosted their price target on Zscaler from $38.00 to $46.00 and gave the company an outperform rating in a report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $37.58.

Shares of ZS stock traded down $1.91 during midday trading on Tuesday, reaching $37.21. 2,090,204 shares of the stock were exchanged, compared to its average volume of 1,383,687. Zscaler has a 1 year low of $24.76 and a 1 year high of $48.24. The company has a market capitalization of $4.79 billion and a price-to-earnings ratio of -120.03.

Zscaler (NASDAQ:ZS) last posted its earnings results on Wednesday, September 5th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $56.20 million for the quarter, compared to analysts’ expectations of $50.72 million. During the same quarter last year, the company posted ($0.07) EPS. The firm’s revenue was up 53.8% on a year-over-year basis. Research analysts forecast that Zscaler will post -0.33 earnings per share for the current year.

In other Zscaler news, insider Manoj Apte sold 107,544 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $41.88, for a total transaction of $4,503,942.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Amit Sinha sold 4,807 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $42.12, for a total value of $202,470.84. The disclosure for this sale can be found here. Insiders have sold a total of 285,228 shares of company stock worth $11,535,607 in the last quarter. Company insiders own 27.40% of the company’s stock.

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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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