After Credit Suisse and RBC Capital gave Zscaler (NASDAQ: ZS) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Alex Henderson assigned a Buy rating to Zscaler today and set a price target of $180.00. The company’s shares closed last Friday at $149.74, close to its 52-week high of $163.80.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 21.8% and a 60.9% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zscaler with a $155.82 average price target, a 3.9% upside from current levels. In a report issued on November 25, Credit Suisse also upgraded the stock to Buy with a $160.00 price target.
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Zscaler’s market cap is currently $19.72B and has a P/E ratio of -168.20. The company has a Price to Book ratio of 46.64.
Based on the recent corporate insider activity of 94 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.
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. 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.
