Zscaler, Inc. (NASDAQ:ZS) to Post Q1 2024 Earnings of ($0.29) Per Share, Wedbush Forecasts

Zscaler, Inc. (NASDAQ:ZS) – Wedbush cut their Q1 2024 earnings per share estimates for Zscaler in a report issued on Wednesday, September 6th. Wedbush analyst D. Ives now forecasts that the company will post earnings of ($0.29) per share for the quarter, down from their prior forecast of ($0.22). Wedbush currently has a “Outperform” rating and a $185.00 price target on the stock. The consensus estimate for Zscaler’s current full-year earnings is ($1.00) per share. Wedbush also issued estimates for Zscaler’s Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.26) EPS, Q4 2024 earnings at ($0.25) EPS and FY2024 earnings at ($1.09) EPS.

A number of other research firms have also recently weighed in on ZS. Morgan Stanley boosted their price target on Zscaler from $120.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 6th. BMO Capital Markets upped their target price on Zscaler from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, September 6th. Mizuho upped their target price on Zscaler from $168.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Deutsche Bank Aktiengesellschaft upped their target price on Zscaler from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $185.00 target price on shares of Zscaler in a research note on Monday, August 28th. Fourteen investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $182.79.

Zscaler Stock Performance

NASDAQ ZS opened at $160.77 on Monday. Zscaler has a fifty-two week low of $84.93 and a fifty-two week high of $194.21. The stock has a market cap of $23.45 billion, a price-to-earnings ratio of -114.02 and a beta of 0.85. The business has a fifty day moving average of $148.71 and a 200-day moving average of $130.46. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.90.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 5th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.15. The company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $430.38 million. Zscaler had a negative return on equity of 34.75% and a negative net margin of 12.51%. Zscaler’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) earnings per share.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Trust Co. NA acquired a new position in shares of Zscaler during the first quarter valued at $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Zscaler in the first quarter worth about $29,000. IFP Advisors Inc lifted its holdings in Zscaler by 60.5% in the second quarter. IFP Advisors Inc now owns 1,037 shares of the company’s stock worth $29,000 after purchasing an additional 391 shares during the period. CoreCap Advisors LLC acquired a new stake in Zscaler in the fourth quarter worth about $38,000. Finally, KB Financial Partners LLC acquired a new stake in Zscaler in the first quarter worth about $39,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In related news, COO Dali Rajic sold 22,000 shares of Zscaler stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $141.50, for a total value of $3,113,000.00. Following the completion of the sale, the chief operating officer now owns 306,406 shares in the company, valued at $43,356,449. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Zscaler news, COO Dali Rajic sold 22,000 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $141.50, for a total transaction of $3,113,000.00. Following the completion of the sale, the chief operating officer now owns 306,406 shares in the company, valued at $43,356,449. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,322 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $152.11, for a total transaction of $201,089.42. Following the transaction, the insider now directly owns 135,777 shares of the company’s stock, valued at approximately $20,653,039.47. The disclosure for this sale can be found here. Insiders have sold a total of 128,483 shares of company stock valued at $19,372,333 in the last three months. Corporate insiders own 19.80% of the company’s stock.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. It offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices 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.