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
€142.90
0.780%
The stock is one of the favorites of our community with 77 Buy predictions and 1 Sell predictions.
With a target price of 205 € there is a positive potential of 43.46% for Zscaler Inc compared to the current price of 142.9 €.
