Zscaler Inc ZS The company will report fourth-quarter earnings on Tuesday. Wall Street is expecting earnings per share of 69 cents and revenue of $567.93, the company reported after the market close.
The stock is up 22.88% over the past year and down 5.83% year-to-date.
Let’s take a look at what the charts indicate for Zscaler stock and how it currently compares to Wall Street estimates.
Strong bullish momentum driving Zscaler shares ahead of Q4 results
Zscaler stock is currently showing strong bullish momentum, with its share price of $199.98 trading above its five-, 20-, and 50-day exponential moving averages (EMA), indicating significant buying pressure.
Chart created with Benzinga Pro
The stock is holding above key moving averages: the eight-day simple moving average (SMA) at $197.99, the 20-day SMA at $186.90, the 50-day SMA at $188.37 and the 200-day SMA at $198.68, all of which indicate an uptrend.
Chart created with Benzinga Pro
The moving average convergence divergence (MACD) indicator at 4.38 further supports the bullish outlook for Zscaler. Even though the relative strength index (RSI) of 63.31 suggests that ZS could be heading towards the overbought zone, the position of Zscaler stock within the upper band of the Bollinger Bands (25) range of $160.13 to $209.42 also indicates a potential for continued upside movement.
Overall, technical indicators suggest a strong bullish trend for Zscaler.
Read also: Zscaler's annual ransomware report reveals record $75 million ransom payment, reinforcing the need for zero trust
Zscaler analysts still see some upside potential
Ratings and consensus estimates: The consensus analyst rating on Zscaler stock is currently Buy with a price target of $224.44. The latest analyst ratings from Barclays, Morgan Stanley, and Cantor Fitzgerald suggest an upside of 7.26% for Zscaler stock with an average price target of $215.
ZS Price Action: Zscaler shares were trading at $199.98 at the time of publication.
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