In a report released today, Alex Henderson from Needham maintained a Buy rating on Zscaler (ZS – Research Report), with a price target of $210.00. The company’s shares closed last Friday at $138.75.
Henderson covers the Technology sector, focusing on stocks such as Okta, Zscaler, and Ciena. According to TipRanks, Henderson has an average return of 15.2% and a 56.44% success rate on recommended stocks.
In addition to Needham, Zscaler also received a Buy from Morgan Stanley’s Hamza Fodderwala in a report issued on November 22. However, on the same day, Barclays maintained a Hold rating on Zscaler (NASDAQ: ZS).
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Based on Zscaler’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $318.06 million and a GAAP net loss of $97.65 million. In comparison, last year the company earned a revenue of $197.07 million and had a GAAP net loss of $81.02 million
Based on the recent corporate insider activity of 51 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., formerly known as SafeChannel Inc., is a cloud-based security solutions provider. The company offers a full range of enterprise network security solutions including internet security, web security, vulnerability management, firewalls, antivirus, and control over user activity in mobile, cloud computing, and Internet of Things environments.
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