Stocks On The Road To Nowhere: Canopy Growth Corporation (CGC), Zscaler, Inc. (ZS)

CGC trading volume has lost -707362 shares compared to readings over the past three months as it recently exchanged 8732638 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 9440000 shares, and this is 0.93 times the normal volume. A look at its technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 57.59 point.

Canopy Growth Corporation (NYSE:CGC) climbed by 17.65% over the past three months which led to its overall six-month increase to stand at 72.28%. The equity price sank -1.03% this week, a trend that has led to both investors and traders taking note of the stock. A look at its monthly performance shows that its shares have recorded a 8.38% gain over the past 30 days. Over the past 12 months the stock has embarked on a rally that has seen it rise 115.27% and is now up by 71.38% since start of this year.

Experts from research firms are bullish about the near-term performance of Canopy Growth Corporation (CGC) with most of them predicting a $0 price target on a short-term (12 months) basis. The average price target by the analysts will see a -100% rise in the stock and would lead to CGC’s market cap to surge to $0. The stock has been rated an average 0, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 11 analysts that track Canopy Growth Corporation (NYSE:CGC) and find out that 1 of them rated it as a Hold. 9 of the 10 analysts rated it as a Buy or a Strong Buy while 1 advised investors to desist from buying the stock or sell it if they already possess it.

Analysts have predicted a price target for Zscaler, Inc. (ZS) for 1 year and it stands at an average $44.1/share. This means that it would likely increase by -10% from its current position. The current price of the stock has been moving between $48.89 and $50.9. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $35. On the other hand, one analyst is super bullish about the price, setting a target as high as $55.

The ZS stock Stochastic Oscillator (%D) is at 73.88%, which means that it is currently neutral. The shares P/S ratio stands at 27.8 which compares to the 8398.83 recorded by the industry or the 133.4 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 720.59, which is higher than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of 0% over the past five years.

Analysts view Zscaler, Inc. (NASDAQ:ZS) as a Hold, with 2.4 consensus rating. Reuters surveyed 15 analysts that follow ZS and found that 7 of those analysts rated the stock as a Hold. The remaining 8 were divided, with 7 analyst rating it as a Buy or a Strong Buy while 1 analysts advised investors to desist from buying Zscaler, Inc. (ZS) shares or sell it if they already own it.