Zscaler (ZS) Issues Earnings Results, Beats Estimates By $0.04 EPS

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Zscaler (NASDAQ:ZS) released its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04, Briefing.com reports. The firm had revenue of $56.20 million for the quarter, compared to analysts’ expectations of $50.72 million. The company’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) EPS. Zscaler updated its Q1 guidance to ($0.06)-($0.05) EPS and its FY19 guidance to ($0.13)-($0.12) EPS.

Zscaler stock opened at $44.07 on Thursday. Zscaler has a twelve month low of $24.76 and a twelve month high of $48.24.

A hedge fund recently raised its stake in Zscaler stock. Bank of New York Mellon Corp grew its holdings in Zscaler Inc (NASDAQ:ZS) by 299.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,202 shares of the company’s stock after buying an additional 32,389 shares during the quarter. Bank of New York Mellon Corp’s holdings in Zscaler were worth $1,544,000 at the end of the most recent quarter. 23.06% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on ZS shares. Zacks Investment Research cut Zscaler from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Needham & Company LLC increased their price objective on Zscaler to $45.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 17th. Deutsche Bank increased their price objective on Zscaler from $29.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, June 7th. Barclays increased their price objective on Zscaler from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 7th. Finally, Credit Suisse Group increased their price objective on Zscaler from $33.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, June 7th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $35.00.

About Zscaler

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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