Building a successful investment portfolio takes skill, research, and a little bit of luck, regardless of whether you are a growth, value, income, or momentum-focused investor. One stock that has caught the attention of analysts is Zscaler (ZS), which was recently upgraded to the Zacks Rank #1 list on June 26, 2024. The Zacks Rank is a unique stock-rating model that helps investors take advantage of earnings estimate revision trends and provides a way to identify stocks highly sought after by institutional investors.
Zscaler is a leading provider of cloud-based security solutions, with 13 analysts revising their earnings estimates upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate for ZS has increased to $2.99 per share, with an average earnings surprise of 33.4%. Analysts are expecting earnings to grow by 67% for the current fiscal year, with revenue forecasted to rise by 32.4%.
Additionally, ZS has seen an increase in value over the past four weeks, up 8.9% compared to the S&P 500’s gain of 3.4%. With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Zscaler could be a stock that helps your portfolio generate returns to fund your financial goals.
If you are looking for investment opportunities, Zacks Investment Research recommends downloading their report on the 7 Best Stocks for the Next 30 Days, which includes analysis on Zscaler, Inc. (ZS).