New Buy Rating for Zscaler (ZS), the Technology Giant

In a report released today, Joel Fishbein from Truist Financial reiterated a Buy rating on Zscaler (ZS – Research Report). The company’s shares closed yesterday at $193.48.

According to TipRanks, Fishbein is a 5-star analyst with an average return of 17.8% and a 61.34% success rate. Fishbein covers the Technology sector, focusing on stocks such as Zscaler, Gitlab, and Check Point.

Zscaler has an analyst consensus of Strong Buy, with a price target consensus of $261.67, representing a 35.24% upside. In a report released on March 14, Jefferies also maintained a Buy rating on the stock with a $275.00 price target.

The company has a one-year high of $259.61 and a one-year low of $84.93. Currently, Zscaler has an average volume of 2.41M.

Based on the recent corporate insider activity of 63 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. Most recently, in January 2024, Brown Andrew William Fraser, a Director at ZS sold 5,000.00 shares for a total of $1,102,250.00.

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 (ZS) Company Description:

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.