Research Analysts Issue Forecasts for Zscaler, Inc.’s Q1 2023 Earnings (NASDAQ:ZS)

Zscaler, Inc. (NASDAQ:ZSGet Rating) – Equities researchers at Jefferies Financial Group issued their Q1 2023 earnings per share (EPS) estimates for Zscaler in a report issued on Thursday, September 15th. Jefferies Financial Group analyst J. Gallo forecasts that the company will post earnings per share of ($0.54) for the quarter. Jefferies Financial Group currently has a “Hold” rating and a $200.00 price target on the stock. The consensus estimate for Zscaler’s current full-year earnings is ($2.17) per share. Jefferies Financial Group also issued estimates for Zscaler’s Q2 2023 earnings at ($0.56) EPS, Q3 2023 earnings at ($0.61) EPS, Q4 2023 earnings at ($0.62) EPS, FY2023 earnings at ($2.35) EPS, Q1 2024 earnings 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.

ZS has been the topic of several other reports. MKM Partners assumed coverage on Zscaler in a research report on Thursday. They issued a “buy” rating and a $225.00 target price on the stock. Cowen dropped their target price on Zscaler from $405.00 to $194.00 and set a “buy” rating on the stock in a research report on Friday, May 27th. Barclays raised their target price on Zscaler from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, September 9th. BMO Capital Markets raised their target price on Zscaler from $172.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, September 9th. Finally, Canaccord Genuity Group raised their target price on Zscaler from $210.00 to $220.00 in a research report on Friday, September 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.06.

Zscaler Trading Down 3.7 %

Zscaler stock opened at $169.49 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.24 and a quick ratio of 2.24. Zscaler has a one year low of $125.12 and a one year high of $376.11. The stock has a market capitalization of $24.04 billion, a PE ratio of -61.19 and a beta of 1.02. The business’s fifty day moving average is $162.68 and its 200 day moving average is $177.65.

Zscaler (NASDAQ:ZSGet Rating) last released its quarterly earnings data on Thursday, September 8th. The company reported $0.25 EPS 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 analysts’ expectations of $305.54 million. During the same period last year, the firm posted ($0.48) earnings per share. Zscaler’s revenue was up 61.4% compared to the same quarter last year.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd purchased a new position in shares of Zscaler in the 1st quarter worth approximately $9,699,000. Louisiana State Employees Retirement System boosted its holdings in Zscaler by 1.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the company’s stock valued at $1,663,000 after acquiring an additional 100 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Zscaler by 7.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 31,393 shares of the company’s stock valued at $7,574,000 after acquiring an additional 2,226 shares during the period. Bailard Inc. purchased a new position in Zscaler during the 1st quarter valued at $1,401,000. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in Zscaler by 113.3% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 45,685 shares of the company’s stock valued at $11,023,000 after acquiring an additional 24,268 shares during the period. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 81,890 shares of Zscaler stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $167.97, for a total value of $13,755,063.30. Following the sale, the chief executive officer now owns 281,107 shares of the company’s stock, valued at approximately $47,217,542.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 81,890 shares of Zscaler stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $167.97, for a total value of $13,755,063.30. Following the sale, the chief executive officer now owns 281,107 shares of the company’s stock, valued at approximately $47,217,542.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Amit Sinha sold 18,974 shares of Zscaler stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $167.97, for a total value of $3,187,062.78. Following the completion of the sale, the president now directly owns 319,023 shares in the company, valued at approximately $53,586,293.31. The disclosure for this sale can be found here. Insiders have sold a total of 151,753 shares of company stock valued at $25,485,657 in the last quarter. 20.30% of the stock is currently owned by insiders.

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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Earnings History and Estimates for Zscaler (NASDAQ:ZS)

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