Zscaler (ZS) Updates FY19 Earnings Guidance

Zscaler (NASDAQ:ZS) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of ($0.03)-($0.01) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.12). The company issued revenue guidance of $268-$272 million, compared to the consensus revenue estimate of $258.96 million.Zscaler also updated its FY 2019 guidance to $-0.03–0.01 EPS.

A number of brokerages have commented on ZS. Credit Suisse Group increased their target price on Zscaler from $38.00 to $46.00 and gave the company an outperform 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 Saturday, September 29th. Morgan Stanley increased their target price on Zscaler from $31.00 to $41.00 and gave the company an equal weight rating in a report on Thursday, September 6th. BTIG Research cut Zscaler from a buy rating to a neutral rating and set a $33.00 target price on the stock. in a report on Monday, September 10th. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated an outperform rating on shares of Zscaler in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three 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 target price of $37.58.

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

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Wednesday, September 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. The business had revenue of $56.20 million for the quarter, compared to analyst estimates of $50.72 million. During the same quarter last year, the business earned ($0.07) EPS. Zscaler’s revenue for the quarter was up 53.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Zscaler will post -0.33 EPS for the current year.

In other news, EVP Amit Sinha sold 4,807 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $42.12, for a total transaction of $202,470.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Manoj Apte sold 107,544 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $41.88, for a total value of $4,503,942.72. The disclosure for this sale can be found here. Insiders have sold 285,228 shares of company stock worth $11,535,607 in the last 90 days. 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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