Zscaler (NASDAQ:ZS) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of ($0.06)-($0.05) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.06). The company issued revenue guidance of $58-59 million, compared to the consensus revenue estimate of $53.32 million.Zscaler also updated its FY19 guidance to ($0.13)-($0.12) EPS.
Several equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Zscaler from a buy rating to a hold rating in a report on Thursday, August 9th. Morgan Stanley boosted their target price on shares of Zscaler from $26.00 to $31.00 and gave the stock an equal weight rating in a report on Friday, June 8th. Needham & Company LLC boosted their target price on shares of Zscaler from $35.00 to $40.00 and gave the stock a strong-buy rating in a report on Thursday, June 7th. Barclays boosted their target price on shares of Zscaler from $30.00 to $36.00 and gave the stock an equal weight rating in a report on Thursday, June 7th. Finally, Deutsche Bank boosted their target price on shares of Zscaler from $29.00 to $35.00 and gave the stock a hold rating in a report on Thursday, June 7th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Zscaler has a consensus rating of Hold and a consensus price target of $35.00.
Shares of ZS traded down $0.19 during midday trading on Wednesday, hitting $44.07. The stock had a trading volume of 3,254,515 shares, compared to its average volume of 1,295,306. Zscaler has a 1 year low of $24.76 and a 1 year high of $48.24.
Zscaler (NASDAQ:ZS) last announced its earnings results on Wednesday, June 6th. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $49.20 million during the quarter, compared to analysts’ expectations of $46.04 million. Zscaler’s quarterly revenue was up 49.5% compared to the same quarter last year. equities research analysts predict that Zscaler will post -0.18 earnings per share for the current year.
A hedge fund recently raised its stake in Zscaler stock. Bank of New York Mellon Corp boosted its holdings in shares of Zscaler Inc (NASDAQ:ZS) by 299.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,202 shares of the company’s stock after acquiring an additional 32,389 shares during the period. Bank of New York Mellon Corp’s holdings in Zscaler were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 23.06% of the company’s stock.
Zscaler, Inc operates as a cloud security company worldwide. The company develops a software-as-a-service based security platform that secures access for users and devices to applications and services. It serves airline and transportation, conglomerate, consumer good and retail, financial service, healthcare, manufacturing, media and communication, public sector and education, technology, and telecommunications service industries.
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