Zscaler, Inc. (NASDAQ:ZS – Get Rating) – Research analysts at Jefferies Financial Group released their estimates for the first quarter of 2023 EPS for Zscaler in a report published Thursday, September 15. Jefferies Financial Group analyst J. Gallo expects the company to earn ($0.54) per share this quarter. Jefferies Financial Group currently has a “hold” rating and a price target of $200.00 on the stock. The consensus estimate for Zscaler’s current full-year earnings is ($2.17) per share. Jefferies Financial Group also released estimates for Zscaler’s earnings for Q2 2023 at ($0.56) EPS, for Q3 2023 at ($0.61) EPS, for Q4 2023 at ($0.62 USD) EPS, FY2023 at ($2.35) EPS, Q1 2024 at ($0.66). EPS, Q2 2024 Earnings at ($0.65) EPS, Q3 2024 Earnings at ($0.68) EPS, Q4 2024 Earnings at ($0.66) EPS and FY2024 Earnings at ($2.67) EPS.
Zscaler (NASDAQ:ZS – Get Rating) last released its quarterly earnings data on Thursday, September 8th. The company reported earnings per share (EPS) of $0.25 for the quarter, beating the consensus estimate of $0.20 by $0.05. Zscaler had a negative return on equity of 56.62% and a negative net margin of 35.77%. The company had revenue of $318.06 million for the quarter compared to the consensus estimate of $305.54 million. In the same quarter last year, the company reported earnings per share of $0.48. The company’s revenue increased by 61.4% compared to the same quarter last year.
Other analysts have also recently issued research reports on the stock. Wolfe Research raised its target price on Zscaler shares to $211.00 from $204.00 and gave the company a “Outperform” rating in a research report on Monday, September 12. Citigroup raised its target price on Zscaler to $225.00 from $200.00 in a report Tuesday, September 13. Stifel Nicolaus increased his price target on Zscaler to $210.00 from $200.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Credit Suisse Group lowered its target price on Zscaler to $275.00 from $310.00 and gave the stock an outperform rating in a report on Friday, September 9th. Finally, BTIG Research downgraded Zscaler from a “buy” rating to a “neutral” rating in a report Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, six with a hold rating, twenty-six with a buy rating and one with a strong buy rating. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $234.06.
Zscaler stock performance
NASDAQ:ZS opened at $169.49 on Monday. The company has a market cap of $24.04 billion, a P/E of -61.19 and a beta of 1.02. The company has a 50-day simple moving average of $162.68 and a 200-day simple moving average of $177.65. The company has a gearing ratio of 1.80, a quick ratio of 2.24 and a current ratio of 2.24. Zscaler has a 52-week low of $125.12 and a 52-week high of $376.11.
Institutional inflows and outflows
Several major investors have recently added to or reduced their stakes in ZS. Capital Research Global Investors increased its position in Zscaler shares by 40.4% in the first quarter. Capital Research Global Investors now owns 4,377,330 shares of the company, valued at $1,056,162,000, after purchasing an additional 1,259,876 shares last quarter. First Trust Advisors LP increased its position in Zscaler shares by 75.2% during the first quarter. First Trust Advisors LP now owns 2,265,816 shares of the company valued at $546,696,000 after purchasing an additional 972,637 shares last quarter. Renaissance Technologies LLC acquired a new interest in Zscaler stock valued at approximately $168,365,000 during Q1. Norges Bank acquired a new stake in Zscaler stock valued at approximately $202,020,000 during the fourth quarter. Finally, Scge Management LP purchased a new interest in Zscaler stock valued at approximately $141,873,000 during Q1. Institutional investors own 45.51% of the company’s shares.
Insider buying and selling
In related news, insider Robert Schlossman sold 239 shares of Zscaler in a transaction Tuesday, June 21. The stock sold at an average price of $150.00 for a total value of $35,850.00. Following the closing of the sale, the insider now owns 112,622 shares of the company’s stock, valued at approximately $16,893,300. The sale was disclosed in a legal filing with the SEC available at this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 81,890 shares of the company’s shares in a transaction on Friday, September 16. The stock sold at an average price of $167.97 for a total value of $13,755,063.30. Upon completion of the transaction, the Chief Executive Officer now owns 281,107 shares of the Company, valued at approximately $47,217,542.79. The sale was announced in a filing with the SEC, which can be accessed through the SEC’s website. Also, insider Robert Schlossman sold 239 shares of the company’s stock in a transaction on Tuesday, June 21. The stock sold at an average price of $150.00 for a total value of $35,850.00. Following the closing of the transaction, the insider now owns 112,622 shares of the company’s stock valued at approximately $16,893,300. The disclosure for this sale can be found here. Over the past 90 days, insiders sold 151,753 shares of the company’s stock valued at $25,485,657. 20.30% of the shares are owned by insiders.
Zscaler, Inc operates as a global cloud security company. The company provides the Zscaler Internet Access solution, which provides users, servers, operational technology and Internet of Things devices with secure access to externally managed applications, including Software-as-a-Service (SaaS) applications and Internet destinations ; and Zscaler Private Access solution designed to provide access to managed applications hosted internally in data centers and private or public clouds.
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