RBC Capital Thinks Zscaler’s Stock is Going to Recover

In a report released yesterday, Matthew Hedberg from RBC Capital maintained a Buy rating on Zscaler (ZS – Research Report), with a price target of $200.00. The company’s shares closed last Friday at $160.00, close to its 52-week low of $125.12.

According to TipRanks.com, Hedberg has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -8.8% and a 31.9% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, DoubleVerify Holdings, and Ping Identity Holding.

Zscaler has an analyst consensus of Strong Buy, with a price target consensus of $213.45, which is a 36.4% upside from current levels. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $172.00 price target.

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Based on Zscaler’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $256 million and GAAP net loss of $100 million. In comparison, last year the company earned revenue of $157 million and had a GAAP net loss of $67.54 million.

Based on the recent corporate insider activity of 80 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., 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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