Opinions
Guy Adami
Zscaler Inc.
ZS-Q
BUY
Jun 02, 2021
$191.420
Stock price when the opinion was issued
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PARTIAL SELL
Rich. He's taken profits. Price target of $270, and it's trading at $280 today. Benefiting from users outside of the traditional corporate network. A favourite because it combines SaaS and cybersecurity. If you have it, write some calls. Keep it on your radar if gets to the $200-220 level.
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DON'T BUY
This cloud computing company saw shares plunge over 15% today after earnings: delivered a sold earnings beat, higher than expected sales up 63% YOY and inline guidance for the current quarter. They also raised their FY forecast. However, the beats were lower than in previous quarters. Trades at 36x sales and the market rejects such high-flyers. This could go lower though he doesn't know what to do with this stock.
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Cybersecurity stocks--despite several recent major hacks--have gone nowhere, because of their high valuations by any metric. In mid-April they topped and sold off, but are back to their April highs, including Palo Alto and Zscaler. The bigger picture is that what happens if cybercriminals go after the banks or exchanges? Yes, these stocks are expensive, but you want to buy them, such as Palo and Zscaler. Cyber attacks aren't going away, but will get worse.