Fintel reports that on May 28, 2024, Rosenblatt downgraded their outlook for Zscaler (NasdaqGS:ZS) from Buy to Neutral.

Analyst Price Forecast Suggests 53.37% Upside

As of May 22, 2024, the average one-year price target for Zscaler is 263.25. The forecasts range from a low of 197.76 to a high of $420.00. The average price target represents an increase of 53.37% from its latest reported closing price of 171.64.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Zscaler is 2,044MM, an increase of 7.83%. The projected annual non-GAAP EPS is 1.73.

What is the Fund Sentiment?

There are 1,246 funds or institutions reporting positions in Zscaler. This is an increase of 41 owner(s) or 3.40% in the last quarter. Average portfolio weight of all funds dedicated to ZS is 0.34%, an increase of 3.39%. Total shares owned by institutions increased in the last three months by 3.08% to 78,118K shares. The put/call ratio of ZS is 0.95, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,780K shares representing 1.86% ownership of the company. In its prior filing, the firm reported owning 2,734K shares , representing an increase of 1.68%. The firm increased its portfolio allocation in ZS by 29.42% over the last quarter.

Invesco Qqq Trust, Series 1 holds 2,713K shares representing 1.81% ownership of the company. In its prior filing, the firm reported owning 2,494K shares , representing an increase of 8.05%. The firm increased its portfolio allocation in ZS by 32.80% over the last quarter.

Goldman Sachs Group holds 2,104K shares representing 1.40% ownership of the company. In its prior filing, the firm reported owning 1,670K shares , representing an increase of 20.64%. The firm increased its portfolio allocation in ZS by 5.37% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 1,979K shares representing 1.32% ownership of the company. In its prior filing, the firm reported owning 1,982K shares , representing a decrease of 0.18%. The firm increased its portfolio allocation in ZS by 27.03% over the last quarter.

American Century Companies holds 1,936K shares representing 1.29% ownership of the company. In its prior filing, the firm reported owning 1,771K shares , representing an increase of 8.54%. The firm decreased its portfolio allocation in ZS by 13.10% over the last quarter.

Zscaler Background Information
(This description is provided by the company.)

Zscaler accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world's largest in-line cloud security platform.