Analyst Mike Cikos of Needham maintained a Buy rating on Zscaler, retaining the price target of $350.00.
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Mike Cikos has given his Buy rating due to a combination of factors, including Zscaler’s recent introduction of the Z-Flex package. This offering has already shown promising results, contributing significantly to the company’s total contract value bookings. The Z-Flex package is designed to meet the purchasing preferences of larger enterprises, which is a strategic alignment that could drive future growth.
Additionally, Zscaler’s approach is comparable to successful models used by other leading companies in the industry, such as Cloudflare and CrowdStrike. This alignment with industry trends and the early success of Z-Flex suggest a strong potential for continued expansion, supporting the Buy rating from Mike Cikos.
In another report released on July 1, Citizens JMP also maintained a Buy rating on the stock with a $355.00 price target.
Based on the recent corporate insider activity of 51 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.