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Zscaler Inc. (ZS) 2023 Stock Forecast: Bullish Outlook with 55.4% Upside

Zscaler Inc. (NASDAQ: ZS) is 9.61% higher on its value in year-to-date trading and has touched a low of $99.64 and a high of $290.47 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ZS stock was last observed hovering at around $123.76 in the last trading session, with the day’s loss setting it -1.11% off its average median price target of $165.00 for the next 12 months. It is also 55.4% off the consensus price target high of $275.00 offered by 41 analysts, but current levels are -6.65% lower than the price target low of $115.00 for the same period.

Currently trading at $122.65, the stock is 11.75% and 1.49% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.37 million and changing -0.90% at the moment leaves the stock -20.34% off its SMA200. ZS registered -49.31% loss for a year compared to 6-month loss of -21.42%.

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The stock witnessed a 8.76% gain in the last 1 month and extending the period to 3 months gives it a -18.49%, and is 8.05% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.12% over the week and 4.92% over the month.

Zscaler Inc. (ZS) has around 4975 employees, a market worth around $16.67B and $1.22B in sales. Fwd P/E is 74.11. Profit margin for the company is -30.20%. Distance from 52-week low is 23.09% and -57.78% from its 52-week high. The company has generated returns on investments over the last 12 months (-21.70%).

Zscaler Inc. (ZS) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Zscaler Inc. (ZS) is a “Overweight”. 41 analysts offering their recommendations for the stock have an average rating of 2.00, where 11 rate it as a Hold and 3 think it is a “Overweight”. 27 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Zscaler Inc. is expected to release its quarterly report on 02/23/2023.The EPS is expected to shrink by -43.40% this year.

Zscaler Inc. (ZS) Top Institutional Holders

The shares outstanding are 143.48M, and float is at 86.47M with Short Float at 9.30%.

Zscaler Inc. (ZS) Insider Activity

A total of 20 insider transactions have happened at Zscaler Inc. (ZS) in the last six months, with sales accounting for 10 and purchases happening 10 times. The most recent transaction is an insider purchase by Brown Andrew William Fraser,the company’sDirector. SEC filings show that Brown Andrew William Fraser bought 5,000 shares of the company’s common stock on Dec 23 at a price of $108.78 per share for a total of $0.54 million. Following the purchase, the insider now owns 23250.0 shares.

Zscaler Inc. disclosed in a document filed with the SEC on Dec 16 that Chaudhry Jagtar Singh (CEO & Chairman) sold a total of 1,262 shares of the company’s common stock. The trade occurred on Dec 16 and was made at $114.14 per share for $0.14 million. Following the transaction, the insider now directly holds 0.32 million shares of the ZS stock.

Still, SEC filings show that on Dec 16, Rajic Dali (Chief Operating Officer) disposed off 7,113 shares at an average price of $114.14 for $0.81 million. The insider now directly holds 296,820 shares of Zscaler Inc. (ZS).

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