Zscaler (NASDAQ:ZS) Releases Q4 2022 Earnings Guidance

Zscaler (NASDAQ:ZSGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.20-$0.21 for the period, compared to the consensus estimate of $0.17. The company issued revenue guidance of $304.00 million-$306.00 million, compared to the consensus revenue estimate of $291.02 million.Zscaler also updated its FY 2022 guidance to $0.64-$0.65 EPS.

Shares of NASDAQ ZS opened at $165.57 on Thursday. Zscaler has a fifty-two week low of $125.12 and a fifty-two week high of $376.11. The company has a 50 day simple moving average of $186.26 and a two-hundred day simple moving average of $240.40. The company has a market capitalization of $23.36 billion, a price-to-earnings ratio of -62.01 and a beta of 1.12. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.38 and a current ratio of 2.38.

Zscaler (NASDAQ:ZSGet Rating) last announced its earnings results on Thursday, May 26th. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. Zscaler had a negative net margin of 38.52% and a negative return on equity of 58.33%. The business had revenue of $286.81 million during the quarter, compared to the consensus estimate of $271.47 million. During the same quarter last year, the firm earned ($0.30) earnings per share. The business’s revenue for the quarter was up 62.6% on a year-over-year basis. On average, analysts forecast that Zscaler will post -2.31 earnings per share for the current fiscal year.

ZS has been the topic of a number of recent analyst reports. Wolfe Research cut their price target on shares of Zscaler from $340.00 to $275.00 and set an outperform rating on the stock in a report on Friday, February 25th. Daiwa Capital Markets upgraded shares of Zscaler from an underperform rating to a buy rating and increased their price target for the company from $286.00 to $296.00 in a report on Tuesday, March 1st. Cowen cut their price target on shares of Zscaler from $405.00 to $194.00 and set an outperform rating on the stock in a report on Friday, May 27th. Robert W. Baird cut their price target on shares of Zscaler from $300.00 to $200.00 and set an outperform rating on the stock in a report on Friday, May 27th. Finally, Credit Suisse Group cut their price target on shares of Zscaler from $410.00 to $310.00 and set an outperform rating on the stock in a report on Friday, May 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $245.75.

In other Zscaler news, President Amit Sinha sold 7,358 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $203.09, for a total transaction of $1,494,336.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Dali Rajic sold 25,000 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $155.80, for a total transaction of $3,895,000.00. Following the completion of the sale, the chief operating officer now owns 231,574 shares of the company’s stock, valued at $36,079,229.20. The disclosure for this sale can be found here. Insiders sold a total of 61,779 shares of company stock worth $11,791,977 over the last ninety days. Insiders own 20.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Worldquant Millennium Advisors LLC boosted its stake in Zscaler by 3,171.7% during the first quarter. Worldquant Millennium Advisors LLC now owns 85,588 shares of the company’s stock worth $20,651,000 after buying an additional 82,972 shares during the period. Walleye Capital LLC lifted its stake in Zscaler by 321.6% in the first quarter. Walleye Capital LLC now owns 36,066 shares of the company’s stock worth $8,702,000 after acquiring an additional 27,511 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in Zscaler by 5.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 3,661 shares of the company’s stock worth $883,000 after acquiring an additional 189 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Zscaler by 22.9% during the first quarter. Beacon Pointe Advisors LLC now owns 2,575 shares of the company’s stock worth $621,000 after purchasing an additional 479 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in Zscaler during the first quarter worth approximately $556,000. Institutional investors and hedge funds own 43.41% of the company’s stock.

About Zscaler (Get Rating)

Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.

Further Reading

Earnings History and Estimates for Zscaler (NASDAQ:ZS)

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