Zscaler (NASDAQ:ZS) Issues FY 2024 Earnings Guidance

Zscaler (NASDAQ:ZSGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.990-3.010 for the period, compared to the consensus earnings per share estimate of 2.760. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Zscaler also updated its Q4 guidance to $0.69-$0.70 EPS.

Zscaler Price Performance

ZS opened at $169.96 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. The firm has a market cap of $25.48 billion, a PE ratio of -333.25 and a beta of 0.85. Zscaler has a 1 year low of $128.12 and a 1 year high of $259.61. The stock has a 50-day moving average price of $178.17 and a 200-day moving average price of $204.70.

Zscaler (NASDAQ:ZSGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 6.31% and a negative net margin of 3.62%. The business had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. Sell-side analysts predict that Zscaler will post -0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ZS shares. BMO Capital Markets lowered their target price on shares of Zscaler from $255.00 to $192.00 and set an outperform rating on the stock in a research note on Wednesday. Barclays raised their target price on shares of Zscaler from $205.00 to $210.00 and gave the stock an overweight rating in a report on Friday. Susquehanna decreased their target price on shares of Zscaler from $275.00 to $210.00 and set a positive rating for the company in a research note on Friday. Morgan Stanley dropped their price target on Zscaler from $214.00 to $202.00 and set an equal weight rating on the stock in a research note on Friday, May 24th. Finally, UBS Group reduced their price objective on Zscaler from $300.00 to $270.00 and set a buy rating for the company in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $223.85.

View Our Latest Stock Report on Zscaler

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The disclosure for this sale can be found here. Insiders sold a total of 12,715 shares of company stock valued at $2,455,902 in the last three months. 19.20% of the stock is currently owned by corporate insiders.

About Zscaler

(Get Free Report)

Zscaler, Inc operates as a cloud security company worldwide. The company 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.

Featured Stories

Earnings History and Estimates for Zscaler (NASDAQ:ZS)

Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.