Wall Street brokerages predict that Zscaler Inc (NASDAQ:ZS) will report sales of $74.54 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Zscaler’s earnings. The highest sales estimate is $74.75 million and the lowest is $74.40 million. Zscaler posted sales of $49.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 51.6%. The company is scheduled to report its next earnings results on Wednesday, June 5th.
According to Zacks, analysts expect that Zscaler will report full-year sales of $290.32 million for the current fiscal year, with estimates ranging from $290.00 million to $290.79 million. For the next financial year, analysts anticipate that the firm will post sales of $385.49 million, with estimates ranging from $380.34 million to $397.99 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Zscaler.
ZS has been the topic of a number of recent research reports. ValuEngine upgraded shares of Zscaler from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Robert W. Baird reiterated a “buy” rating and set a $65.00 price objective on shares of Zscaler in a research note on Tuesday, April 9th. Barclays increased their price objective on shares of Zscaler from $42.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Bank of America set a $53.00 price objective on shares of Zscaler and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, Deutsche Bank increased their price objective on shares of Zscaler from $44.00 to $57.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $57.38.
In other Zscaler news, EVP Amit Sinha sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $71.30, for a total value of $1,426,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Blasing sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.00, for a total transaction of $72,000.00. The disclosure for this sale can be found here. Insiders have sold 558,468 shares of company stock valued at $30,837,157 in the last three months. 27.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new position in shares of Zscaler during the first quarter worth $28,000. Mascoma Wealth Management LLC purchased a new position in shares of Zscaler during the fourth quarter worth $39,000. Quantamental Technologies LLC purchased a new position in shares of Zscaler during the fourth quarter worth $39,000. Acadian Asset Management LLC raised its holdings in shares of Zscaler by 561.3% during the fourth quarter. Acadian Asset Management LLC now owns 1,230 shares of the company’s stock worth $48,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Zscaler during the fourth quarter worth $51,000. 29.84% of the stock is owned by institutional investors and hedge funds.
NASDAQ ZS opened at $62.73 on Monday. Zscaler has a 52-week low of $24.76 and a 52-week high of $72.94. The company has a market cap of $7.79 billion and a PE ratio of -202.35.
Zscaler Company Profile
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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