ZS stock rose on November 29, 2021, after the stock received price target hikes from two analysts.
ZS stock price target raised to $390 from $345 at Needham
Needham analyst Alex Henderson raised the firm’s price target on ZS stock to $390 from $345 and kept a Strong Buy rating on the shares ahead of its Q1 earnings. The Cloud Direct model of Security and Application Access is “superior” to the “broken” legacy perimeter defense/Enterprise Network client-server architecture employed over the last 35-40 years, and Zscaler is the most advanced in delivering this new architecture, the analyst tells investors in a research note. While the stock faces a “valuation challenge” at 35-times expected 2023 salesThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th..., Henderson continues to see upside for Zscaler shares.
ZS stock price target raised to $380 from $326 at RBC Capital
RBC Capital analyst Matthew Hedberg raised the firm’s price target on ZS stock to $380 from $326 and kept an Outperform rating on the shares ahead of its Q1 results. The analyst expects the company to deliver upside to expectations based on favorable partner checks, continued bullish hiring data, and strong results from security peers. Zscaler is well-positioned to disrupt legacy security spending and stands to benefit as COVID has accelerated the mega-trends such as cloud adoption, digital transformation, and zero-trust security by up to five years, Hedberg ad
Zscaler price target raised to $400 from $325 at Deutsche Bank
On November 24, 2021, Deutsche Bank analyst Patrick Colville raised the firm’s price target on ZS stock to $400 from $325 and kept a Buy rating on the shares ahead of the fiscal Q1 results. The analyst believes the company is benefitting from continued elevated cybersecurity spending and hybrid working.
Zscaler Powers its Global Data Centers and Offices with 100% Renewable Energy
On November 18, 2021, Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, announced that it achieved 100% renewable energy through a combination of directly purchased renewable energy and renewable energy credits (RECs) for its offices and 150+ data centers that run the Zscaler Zero Trust Exchange. Zscaler’s unique and inherently efficient cloud-based architecture enables customers to improve their security posture and user experience while reducing the need to purchase, maintain, and power on-premises security hardware, thus enabling customers to reduce their IT equipment overhead and consequently their energy usage.
Taking a systematic approach to addressing its environmental impact, Zscaler has built its cloud security platform in more than 150 data centers worldwide – strategically placed where customers are located – with many already operating on 100% renewable energy. While 78% of the energy used to process over 190 billion security transactions per day was from renewable sources as of October 2021, there was still room to improve. Zscaler took the next step to achieve 100% renewable energy by purchasing high-quality RECs from wind and solar farms projects. These RECs match the projected non-renewable energy used by Zscaler’s offices and data centers globally for 2021. Zscaler intends to annually procure 100% renewable energy for its global offices and data centers for the benefit of its customers. Acknowledging that this is a journey, Zscaler’s ESG program quantifies its broader carbon footprint, including other Scope 3 emissions, and develops a path to net-zero greenhouse gas emissions.
“Having technology partners with compatible cultures and values is always beneficial,” said Mark Ferguson, CISO at Bombardier, the Montreal, Quebec-based global leader in business aviation. “Zscaler’s commitment to using 100% renewable energy in its operations aligns with our ESG goals and priorities of improving our cybersecurity and driving positive environmental impact by reducing our security appliances. We are taking large steps to meet our long-term environmental goals, including dedicating over 50% of our R&D investments towards designing and producing greener aircraft.”
“We are passionate about creating meaningful change for our customers and our planet,” said Amit Sinha, president, and CTO and member of the board, Zscaler, Inc. “Zscaler has a long track record of driving technology innovation via the cloud, which now uses 100% renewable energy. With the steps we took today, Zscaler supports our customers’ goals of adopting Zero Trust security and eliminating the carbon emissions associated with the energy used for their security program. We will continue to enhance the efficiency of our architecture and infrastructure to do our part in addressing climate change.”
ZS stock technical analysis
The long and short-term trends are both positive. This is looking good! Although ZS has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when ZS stock is a good entry.