Zscaler (ZS) Receives a Buy from Needham
In a report released today, Alex Henderson from Needham assigned a Buy rating to Zscaler (ZS), with a price target of $240.00. The company’s shares closed last Monday at $198.70, close to its 52-week high of $212.59.
According to TipRanks.com, Henderson is a top 100 analyst with an average return of 29.1% and a 68.1% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and Acacia Communications.
Currently, the analyst consensus on Zscaler is a Moderate Buy with an average price target of $198.39, implying a 0.7% upside from current levels. In a report issued on January 4, Deutsche Bank also maintained a Buy rating on the stock with a $225.00 price target.
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The company has a one-year high of $212.59 and a one-year low of $35.00. Currently, Zscaler has an average volume of 2.34M.
Based on the recent corporate insider activity of 101 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.