Stephens Thinks Zscaler’s Stock is Going to Recover

In a report released today, Brian Colley from Stephens initiated coverage with a Buy rating on Zscaler (ZS – Research Report) and a price target of $200.00. The company’s shares closed last Wednesday at $132.58, close to its 52-week low of $125.12.

According to TipRanks.com, Colley is a 1-star analyst with an average return of -8.5% and a 42.9% success rate. Colley covers the Technology sector, focusing on stocks such as Ping Identity Holding, CyberArk Software, and Everbridge.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zscaler with a $246.00 average price target, implying a 92.5% upside from current levels. In a report issued on May 10, Truist Financial also maintained a Buy rating on the stock with a $275.00 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 82 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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