Zscaler Inc (ZS) Receives a Buy from Wedbush

By Austin Angelo

In a report released today, Daniel Ives from Wedbush maintained a Buy rating on Zscaler Inc (ZSResearch Report), with a price target of $80. The company’s shares closed last Monday at $61.60.

According to TipRanks.com, Ives is a 4-star analyst with an average return of 3.0% and a 54.4% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Tenable Holdings Inc, and Citrix Systems Inc.

Currently, the analyst consensus on Zscaler Inc is a Moderate Buy with an average price target of $73.50, implying a 20.6% upside from current levels. In a report issued on September 6, Robert W. Baird also maintained a Buy rating on the stock with a $80 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 $6.96 million.

Based on the recent corporate insider activity of 97 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. 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.