Zscaler (ZS) Receives a Buy from Credit Suisse

By Austin Angelo

In a report issued on December 4, Brad Zelnick from Credit Suisse maintained a Buy rating on Zscaler (ZSResearch Report), with a price target of $70.00. The company’s shares closed last Monday at $46.70.

According to TipRanks.com, Zelnick is a 5-star analyst with an average return of 15.7% and a 74.0% success rate. Zelnick covers the Technology sector, focusing on stocks such as Zoom Video Communications, Ping Identity Holding, and Slack Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zscaler with a $62.19 average price target, implying a 28.5% upside from current levels. In a report issued on November 25, Merrill Lynch also upgraded the stock to Buy with a $68.00 price target.

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Based on Zscaler’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $17.08 million. In comparison, last year the company had a GAAP net loss of $7.59 million.

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Zscaler, Inc. engages in the provision of cloud-based internet security platform. It operates through the United States and Rest of the World geographical segments. It offers Zcaler internet access, private access, and platform. The company was founded by Jay Chaudhry and K. Kailash in September 2007 and is headquartered in San Jose, CA.