Here's Why Zscaler Stock Rose 31% in the First Half of 2023
Shares of (NASDAQ: ZS) were up 30.7% during the first six months of 2023, according to S&P Global Market Intelligence. The cybersecurity stock's June earnings report beat expectations, causing investors to revise their forecasts. Increased risk appetite also lifted growth stocks, and that translated to gains for Zscaler and some of its peers.
Zscaler enjoyed big gains in January thanks to optimism about economic recovery, but it gave them all back after its March earnings report. Despite topping analyst estimates to report a huge revenue growth and free cash flow figures, investors were concerned about the company's forward-looking guidance. High-growth, high-valuation stocks are highly sensitive to even lukewarm news.
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Source Fool.com
Zscaler Inc Stock
The stock is one of the favorites of our community with 67 Buy predictions and 1 Sell predictions.
With a target price of 205 € there is a positive potential of 21.98% for Zscaler Inc compared to the current price of 168.06 €.
