Zscaler Inc Receives a Buy from Credit Suisse


In a report released yesterday, Brad Zelnick from Credit Suisse reiterated a Buy rating on Zscaler Inc (NASDAQ: ZS), with a price target of $38. The company’s shares closed yesterday at $30.65.

Zelnick observed:

“We reiterate our Outperform rating and raise our target price to $38 (from $33).”

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 12.0% and a 76.7% 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 $32, representing a 4.4% upside.

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

See today’s analyst top recommended stocks >>

The company has a one-year high of $34.83 and a one-year low of $24.76. Currently, Zscaler Inc has an average volume of 1.25M.

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.

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