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Here's Why Zscaler (ZS) is a Strong Momentum Stock

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Zscaler (ZS)

Zscaler is one of the world’s leading providers of cloud-based security solutions.

ZS boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Zscaler has seen some interesting price action recently; the stock is down 2.5% over the past one week and up 4.6% over the past four weeks. And in the last one-year period, ZS has gained 25.8%. As for the stock's trading volume, 2,905,017.50 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. 12 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.24 to $2.97 per share. ZS boasts an average earnings surprise of 33.4%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding ZS to their portfolios.

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Zscaler, Inc. (ZS) : Free Stock Analysis Report

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Zacks Investment Research