Why Zscaler Stock Flew Nearly 8% Higher on Monday
Cybersecurity stock (NASDAQ: ZS) secured quite a strong gain for its shareholders at the kickoff of this trading week. It rose by just under 8% on Monday, thanks to an analyst reiterating his extremely bullish take on the company's prospects. That rise was far higher than the 0.2% bump experienced by the S 500 index.
Alex Henderson of Needham was the man behind the day's Zscaler take. In a new note on the cybersecurity company, he kept his strong buy recommendation intact, at a price target of $210 per share. That implies significant upside for the stock, as even after Monday's surge, its price would need to rise by 36% to meet that level.
It wasn't immediately apparent why Henderson felt the need to reiterate his view on Zscaler. What's certain is that cybersecurity companies have generally been having quite the bull run of late, on concerns that malicious actors will continue to try to hack into the operations of businesses and governmental organizations.
Source Fool.com
Zscaler Inc Stock
With 53 Buy predictions and 1 Sell predictions Zscaler Inc is one of the favorites of our community.
As a result the target price of 204 € shows a positive potential of 28.22% compared to the current price of 159.1 € for Zscaler Inc.
