Credit Suisse Reiterates Their Buy Rating on Zscaler Inc

Credit Suisse analyst Brad Zelnick reiterated a Buy rating on Zscaler Inc (NASDAQ: ZS) today and set a price target of $38. The company’s shares opened today at $40.75.

Zelnick wrote:

“We reiterate our Outperform rating, and share the following key messages:.”

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 12.8% and a 71.9% success rate. Zelnick covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Cornerstone Ondemand, and Ultimate Software.

Currently, the analyst consensus on Zscaler Inc is Moderate Buy and the average price target is $33.10, representing a -18.8% downside.

In a report issued on June 7, Robert W. Baird also maintained a Buy rating on the stock with a $37 price target.

See today’s analyst top recommended stocks >>

Based on Zscaler Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $8.77 million. In comparison, last year the company had a GAAP net loss of $7.56 million.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Zscaler, Inc. provides cloud-based Internet security platform. It offers security products such as web security, Cloud Sandboxing and firewall, and Zcaler private access. The company also offers Security Cloud, a comprehensive, carrier-grade internet security, and compliance platform.