Why Zscaler Rocketed Over 50% Higher in May
Shares of cybersecurity disruptor (NASDAQ: ZS) rocketed 50.4% higher in May, according to data from S&P Global Market Intelligence.
Zscaler had fallen far off its all-time highs coming into the month, as the bubble-like valuations of the pandemic period ran into rapid interest rate increases, fears over recession, and a slowdown in software purchasing on the part of large enterprises over the past year.
However, Zscaler seemed to prove its unique advantages in May, as it preannounced third-quarter revenue and earnings far above its initial guidance given in early March. That bucked the slowing trend other software firms have recently experienced, showing Zscaler to be a standout all-star stock in the cybersecurity realm.
Source Fool.com
Zscaler Inc Stock
€153.54
-0.720%
With 101 Buy predictions and not a single Sell prediction Zscaler Inc is an absolute favorite of our community.
As a result the target price of 235 € shows a very positive potential of 53.05% compared to the current price of 153.54 € for Zscaler Inc.
