Cloud Hosting

Zscaler Inc, a leading cloud-based internet security platform provider, saw its price objective increase from $130.00 to $145.00 by Piper Sandler analysts in their latest research note issued last Friday. However, Piper Sandlers price target also indicates a potential downside of 2.57% from the companys current price.

The latest earnings data for Zscaler was released on Thursday, June 1st, which reported an EPS of $0.48 per share for the quarter beating consensus estimates of $0.42 by $0.06 and generating revenue of $418.80 million compared to expectations of $411.55 million.

Despite facing tough competition in the cloud-based security industry, Zscaler continues to innovate and diversify its offerings that include; Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection and Zscaler Digital Experience.

It is no secret that cyber threats have increased exponentially during the pandemic as businesses transitioned to remote work- it is therefore commendable for any company within the cloud-based security industry who has managed to succeed in these unprecedented times.

In conclusion, while there may be some challenges ahead for Zscaler given its current market valuation and position alongside stronger competitors like CyberArk Software (NASDAQ: CYBR) and Palo Alto Networks (NYSE:PANW), the companys ability to adapt in todays fast-paced digital transformation landscape should not be understated with sell-side analysts predicting expected gains or even holding steady depending on adjustments made over this years trading period.

Current $150.84

Concensus $232.83

Low $125.00

Median $210.00

High $415.00

Social SentimentsWe did not find social sentiment data for this stock

Zscaler, Inc is a prominent cloud-based internet security platform provider. Recently, the NASDAQ-listed stock opened at $148.82. Its 50-day moving average is $113.69, while its 200-day moving average stands at $118.19. Despite this growth, the firm has witnessed a market capitalization of $21.60 billion with PE ratio of -78.74 and a beta of 0.84, being recently labeled as Moderate Buy. The companys leading product portfolio includes Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection and Zscaler Digital Experience.

The stock has attracted significantly high ratings from several equities analysts who are keen on the growth potential of the company. Needham & Company LLC and Loop Capital have reaffirmed their positive rating for Zsacaler by raising their price objectives to $210.00 and $135 respectively in an effort to capitalize on investors confidence in the companys future growth prospects.

Oppenheimer started coverage on Zscaler by giving it an outperform rating with a target price set at $180 per share along Rosenblatt Securities that assumed coverage of the stock at a buy rating with a price target set at $135.

In addition to good news from analysts about investment potential and positive trajectory for growth driven by investors confidence after buying shares into getting a piece ownership stake in such promising technology progress made possible through cloud computing evolution- insiders Robert Schlossman (the companys insider) sold 3,645 shares worth over US$389k while CFO Remo Canessa also sold 6,229 shares worth US$665k from which each made gains totaling millions since they both own lots more stock options than what would be required under SEC rules indicating lengthy management loyalty commitment toward growth as a primary goal. Several hedge funds and institutional investors, such as Vanguard Group Inc., Artisan Partners Limited Partnership, WestBridge Capital Management LLC, First Trust Advisors LP, and Champlain Investment Partners LLC have increased their position in the company.

To sum it up, Zscalers position in the cybersecurity industry has been strengthened by some of these recent developments. The firms stock remains an attractive option for investors who are keen on betting on a reliable long-term tech partner that promises to deliver value through cloud-based internet security solutions. With a 12-month high of $194.21 per share and several favourable ratings from equity analysts, Zscaler looks promising regarding future wealth accumulation opportunities for prospective long term investors.

See original here:
Zscaler Inc's Price Target Increased by Piper Sandler Analysts ... - Best Stocks