Zscaler's Stock Signaling Strong Bullish Trend Ahead Of Q4 Earnings - Is The Bull Run Sustainable?

Zscaler Inc ZS will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects 69 cents in EPS and $567.93 in revenues as the company reports after market hours.

The stock is up 22.88% over the past year, down 5.83% YTD.

Let’s look at what the charts indicate for Zscaler stock and how the stock currently maps against Wall Street estimates.

Strong Bullish Momentum Driving Zscaler Stock Ahead Of Q4 Earnings 

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 (EMAs), indicating significant buying pressure.

Chart created using Benzinga Pro

The stock remains above key moving averages: the eight-day simple moving average (SMA) of $197.99, the 20-day SMA of $186.90, the 50-day SMA of $188.37 and the 200-day SMA of $198.68, all signaling a bullish trend.

Chart created using Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator at 4.38 further supports a bullish outlook for Zscaler. Despite the Relative Strength Index (RSI) of 63.31 suggesting that ZS might be heading towards the overbought zone, the position of Zscaler’s stock within the upper band of the Bollinger Bands (25) range of $160.13 to $209.42 also indicates a potential for continued bullish movement.

Overall, the technical indicators suggest a strong bullish trend for Zscaler.

Read Also: Zscaler’s Annual Ransomware Report Uncovers Record-Breaking Ransom Payment of US$75 Million, Reinforcing the Need for Zero Trust

Zscaler Analysts See Some Upside Still

Ratings & Consensus Estimates: The consensus analyst rating on Zscaler stock stands at a Buy currently with a price target of $224.44. The latest analyst ratings from Barclays, Morgan Stanley and Cantor Fitzgerald suggest a 7.26% upside for Zscaler stock with an average price target of $215.

ZS Price Action: Zscaler stock was trading at $199.98 at the time of publication.

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