Zacks: Brokerages Expect Zscaler, Inc. (NASDAQ:ZS) Will Announce Quarterly Sales of $271.81 Million

Equities analysts expect Zscaler, Inc. (NASDAQ:ZS – Get Rating) to report sales of $271.81 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Zscaler’s earnings, with the highest sales estimate coming in at $274.00 million and the lowest estimate coming in at $271.00 million. Zscaler reported sales of $176.40 million in the same quarter last year, which would suggest a positive year over year growth rate of 54.1%. The company is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Zscaler will report full-year sales of $1.05 billion for the current year, with estimates ranging from $1.05 billion to $1.06 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.43 billion, with estimates ranging from $1.36 billion to $1.52 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Zscaler.

Zscaler (NASDAQ:ZS – Get Rating) last issued its earnings results on Thursday, February 24th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). Zscaler had a negative net margin of 38.47% and a negative return on equity of 51.11%. The business had revenue of $255.56 million during the quarter, compared to analyst estimates of $241.87 million. During the same quarter in the prior year, the company earned ($0.39) EPS. Zscaler’s revenue for the quarter was up 62.7% on a year-over-year basis.

Several equities research analysts have recently weighed in on ZS shares. Wedbush reduced their price objective on Zscaler from $400.00 to $330.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. BMO Capital Markets reduced their target price on Zscaler from $415.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. The Goldman Sachs Group cut their price objective on Zscaler from $326.00 to $281.00 and set a “neutral” rating for the company in a report on Tuesday. Loop Capital cut their price objective on Zscaler from $360.00 to $245.00 in a report on Friday, February 25th. Finally, Piper Sandler cut their price objective on Zscaler from $365.00 to $295.00 in a report on Thursday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Zscaler presently has an average rating of “Buy” and a consensus target price of $317.45.

In other Zscaler news, COO Dali Rajic sold 12,568 shares of the firm’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $203.09, for a total value of $2,552,435.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Amit Sinha sold 6,000 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $250.89, for a total value of $1,505,340.00. The disclosure for this sale can be found here. Insiders have sold 36,779 shares of company stock valued at $7,896,977 in the last ninety days. 20.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Zscaler during the fourth quarter worth about $202,020,000. Capital Research Global Investors lifted its stake in Zscaler by 18.7% during the fourth quarter. Capital Research Global Investors now owns 3,117,454 shares of the company’s stock worth $1,001,731,000 after purchasing an additional 490,831 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Zscaler by 20.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,773,065 shares of the company’s stock worth $464,933,000 after purchasing an additional 300,446 shares during the last quarter. First Trust Advisors LP lifted its stake in Zscaler by 27.4% during the fourth quarter. First Trust Advisors LP now owns 1,293,179 shares of the company’s stock worth $415,537,000 after purchasing an additional 278,180 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Zscaler by 5,657.1% in the 4th quarter. ProShare Advisors LLC now owns 237,481 shares of the company’s stock valued at $76,310,000 after acquiring an additional 233,356 shares during the last quarter. Institutional investors own 43.41% of the company’s stock.

Shares of ZS stock opened at $223.00 on Wednesday. Zscaler has a 12 month low of $157.03 and a 12 month high of $376.11. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $238.81 and its two-hundred day moving average is $277.68. The company has a market cap of $31.46 billion, a PE ratio of -93.70 and a beta of 1.00.

Zscaler Company Profile (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.

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