In a report released today, Jonathan Ruykhaver from Robert W. Baird maintained a Buy rating on Zscaler Inc (ZS), with a price target of $70. The company’s shares closed last Monday at $51.45.
Ruykhaver observed:
“We recently attended the analyst day Zscaler held in conjunction with its Zenith Live Summit. We come away from the conference incrementally positive on the benefits Zscaler is able to deliver, particularly in terms of user experience, and TCO. We see digital transformation driving both a new network and security architecture, and customer feedback reinforces the belief that Zscaler is at the forefront of this trend both in innovation and execution. We see new CRO and S&M investments as catalysts to accelerating growth in 2HFY20.”
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 16.6% and a 64.8% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zscaler Inc with a $63.73 average price target, representing a 25.8% upside. In a report issued on September 11, Wedbush also maintained a Buy rating on the stock with a $80 price target.
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The company has a one-year high of $89.54 and a one-year low of $30.72. Currently, Zscaler Inc has an average volume of 3.09M.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZS in relation to earlier this year.
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Zscaler, Inc. engages in the provision of cloud-based internet security platform. It operates through the United States and Rest of the World geographical segments. It offers Zcaler internet access, private access, and platform. The company was founded by Jay Chaudhry and K. Kailash in September 2007 and is headquartered in San Jose, CA.
