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Examining the Potential Price Growth of Zscaler Inc (ZS)

Zscaler Inc’s recently made public that its Chief Financial Officer CANESSA REMO unloaded Company’s shares for reported $0.57 million on Jun 21 ’24. In the deal valued at $177.54 per share,3,238 shares were sold. As a result of this transaction, CANESSA REMO now holds 240,248 shares worth roughly $48.45 million.

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Then, CANESSA REMO sold 7,981 shares, generating $1,414,337 in total proceeds. Upon selling the shares at $177.21, the Chief Financial Officer now owns 243,486 shares.

Before that, Schlossman Robert sold 6,636 shares. Zscaler Inc shares valued at $1,181,487 were divested by the Chief Legal Officer at a price of $178.04 per share. As a result of the transaction, Schlossman Robert now holds 118,621 shares, worth roughly $23.92 million.

JP Morgan upgraded its Zscaler Inc [ZS] rating to an Overweight from a a Neutral in a research note published on June 14, 2024; the price target was increased to $230 from $205. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who remained covering the stock and in mid June has reiterated a ‘”an Outperform”‘ rating for it. Wells Fargo also remained covering ZS and has decreased its forecast on May 28, 2024 with a “an Equal weight” recommendation from previously “an Overweight” rating. Rosenblatt revised its rating on May 28, 2024. It rated ZS as “a Neutral” which previously was an “a Buy”.

Price Performance Review of ZS

On Friday, Zscaler Inc [NASDAQ:ZS] saw its stock jump 1.64% to $201.65. Over the last five days, the stock has gained 6.58%. Zscaler Inc shares have fallen nearly -8.99% since the year began. Nevertheless, the stocks have risen 37.20% over the past one year. While a 52-week high of $259.61 was reached on 02/09/24, a 52-week low of $131.59 was recorded on 05/30/24. SMA at 50 days reached $178.81, while 200 days put it at $193.42. A total of 1.69 million shares were traded, compared to the trading of 0.86 million shares in the previous session.

Levels Of Support And Resistance For ZS Stock

The 24-hour chart illustrates a support level at 198.19, which if violated will result in even more drops to 194.73. On the upside, there is a resistance level at 204.43. A further resistance level may holdings at 207.21. The Relative Strength Index (RSI) on the 14-day chart is 68.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 11.38, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.32%. Stochastics%K at 92.40% indicates the stock is a selling.

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