Zscaler (NASDAQ:ZS) Issues Q3 2020 After-Hours Earnings Guidance

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Zscaler (NASDAQ:ZS) issued an update on its third quarter 2020
After-Hours earnings guidance on Thursday morning. The company provided EPS guidance of 0.01-0.03 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.04. The company issued revenue guidance of $105-107 million, compared to the consensus revenue estimate of $104.6 million.Zscaler also updated its FY 2020
After-Hours guidance to 0.14-0.16 EPS.

Zscaler stock traded down $10.67 during midday trading on Friday, reaching $54.51. The company’s stock had a trading volume of 13,178,875 shares, compared to its average volume of 1,637,063. Zscaler has a fifty-two week low of $40.05 and a fifty-two week high of $89.54. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $8.34 billion, a P/E ratio of -109.02 and a beta of 1.07. The business has a 50-day simple moving average of $57.72 and a 200-day simple moving average of $54.78.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.11. Zscaler had a negative return on equity of 13.73% and a negative net margin of 17.70%. The company had revenue of $93.59 million for the quarter, compared to analysts’ expectations of $89.81 million. During the same period last year, the firm earned $0.01 earnings per share. Zscaler’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, equities analysts forecast that Zscaler will post -0.34 earnings per share for the current year.

A number of equities analysts recently issued reports on the company. Credit Suisse Group reissued a buy rating and set a $70.00 price target on shares of Zscaler in a report on Monday, December 9th. Barclays reissued a hold rating and set a $64.00 price target on shares of Zscaler in a report on Thursday. BMO Capital Markets raised their price target on Zscaler from $58.00 to $63.00 and gave the stock a market perform rating in a report on Friday. Robert W. Baird raised their price target on Zscaler from $65.00 to $70.00 and gave the stock an outperform rating in a report on Friday. Finally, UBS Group raised their price target on Zscaler from $55.00 to $60.00 and gave the stock a neutral rating in a report on Friday. Two analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $64.84.

In related news, CFO Remo Canessa sold 110,000 shares of Zscaler stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $60.00, for a total transaction of $6,600,000.00. Following the completion of the transaction, the chief financial officer now directly owns 417,812 shares in the company, valued at approximately $25,068,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amit Sinha sold 887 shares of Zscaler stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $47.00, for a total value of $41,689.00. The disclosure for this sale can be found here. Insiders have sold a total of 231,187 shares of company stock valued at $13,532,524 over the last 90 days. Insiders own 23.80% of the company’s stock.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.

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