Robert W. Baird Sticks to Its Buy Rating for Zscaler Inc (ZS)

By Jason Carr

Robert W. Baird analyst Jonathan Ruykhaver maintained a Buy rating on Zscaler Inc (ZSResearch Report) today and set a price target of $80. The company’s shares closed yesterday at $83.29, close to its 52-week high of $85.50.

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 23.6% and a 77.4% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zscaler Inc with a $78.27 average price target, a -6.0% downside from current levels. In a report issued on June 27, Wedbush also maintained a Buy rating on the stock with a $87 price target.

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Based on Zscaler Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $12.24 million. In comparison, last year the company had a GAAP net loss of $8.77 million.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock.

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Zscaler, Inc. provides cloud-based internet security platform. It specializes in Zscaler internet access, threat prevention, data protection, and Zscaler private access. Its services also include enterprise network security which offers integration point positioned in the data path providing secure access to the internet, cloud, and internal applications.