Zscaler, Inc. operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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. It also offers Zscaler Digital Experience that measures end-to-end user experience across business applications, as well as provides an easy to understand digital experience score for each user, application, and location within an enterprise. In addition, the company provides workload segmentation solutions comprising Zscaler Cloud Security Posture Management that identifies and remediates application misconfigurations in SaaS, infrastructure as a service, and platform as a service to reduce risk and ensure compliance with industry and organizational benchmarks; and Zscaler Cloud Workload Segmentation, which is designed to secure application-to-application communications inside public clouds and data centers to stop lateral threat movement, as well as prevents application compromise and reduces the risk of data breaches. Its platform modules include Zscaler Central Authority, Zscaler Enforcement Node, and Zscaler Log Servers. It serves customers in airlines and transportation, conglomerates, consumer goods and retail, financial services, healthcare, manufacturing, media and communications, public sector and education, technology, and telecommunications services industries. The company was formerly known as SafeChannel, Inc., and changed its name to Zscaler, Inc. in August 2008. Zscaler, Inc. was incorporated in 2007 and is headquartered in San Jose, California.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Piper Sandler dropped their price objective on Zscaler from $260.00 to $160.00 in a research report on Friday, May 27th. Barclays lifted their price target on Zscaler from $147.00 to $168.00 and gave the company an "equal weight" rating in a report on Friday, May 27th. Canaccord Genuity Group lowered their price target on Zscaler from $320.00 to $210.00 in a report on Friday, May 27th. Robert W. Baird lowered their price target on Zscaler from $300.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, May 27th. Finally, Citigroup lowered their price target on Zscaler from $225.00 to $200.00 in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and an average price target of $246.65.
Zscaler Trading Down 0.9 %
Shares of ZS traded down $1.70 during midday trading on Thursday, hitting $178.71. The stock had a trading volume of 2,573,194 shares, compared to its average volume of 2,555,184. Zscaler has a fifty-two week low of $125.12 and a fifty-two week high of $376.11. The business has a 50-day simple moving average of $156.54 and a two-hundred day simple moving average of $195.15. The firm has a market cap of $25.35 billion, a P/E ratio of -68.32 and a beta of 1.04. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.80.
Zscaler (NASDAQ:ZS - Get Rating) last posted its quarterly earnings results on Thursday, May 26th. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.02. The business had revenue of $286.81 million during the quarter, compared to analysts' expectations of $271.47 million. Zscaler had a negative net margin of 38.52% and a negative return on equity of 58.37%. The firm's quarterly revenue was up 62.6% compared to the same quarter last year. During the same period last year, the company posted ($0.30) earnings per share. As a group, equities analysts forecast that Zscaler will post -2.31 EPS for the current year.
Insider Transactions at Zscaler
In other news, insider Robert Schlossman sold 239 shares of the business's stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $150.00, for a total value of $35,850.00. Following the completion of the sale, the insider now directly owns 112,622 shares in the company, valued at $16,893,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Zscaler news, COO Dali Rajic sold 25,000 shares of the business's stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $155.80, for a total value of $3,895,000.00. Following the sale, the chief operating officer now owns 231,574 shares of the company's stock, valued at approximately $36,079,229.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 239 shares of the business's stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $150.00, for a total transaction of $35,850.00. Following the completion of the sale, the insider now directly owns 112,622 shares in the company, valued at approximately $16,893,300. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,710 shares of company stock worth $7,275,302. 20.30% of the stock is owned by insiders.
