Do you wonder where the stock market is headed? Well, Wells Fargo’s senior global market strategist, Scott Wren, believes that the S&P 500 will remain range-bound, with a low end around 3,600 and a top end around 4,300, for the remainder of the year. Wren’s advice is not to chase the market when it nears that peak, but to make use of any pullbacks.
As for the best stocks to load up on in the current climate, Wren has an idea about those too. “We want to focus on U.S. over international, large- and mid- cap stocks over small, and favor sectors like Energy, Health Care, and Technology that we believe have the potential to weather the economic storm we may see later this year,” he explained.
The stock analysts at Wells Fargo are putting that stance into action. They are naming stocks from those recommended segments as ‘Top Picks’ and selecting the ones that have recently pulled back but are expected to rebound. We’ve used the TipRanks platform to look up the details on two of those picks. Here’s the lowdown.
Zscaler, Inc. (ZS)
The first Wells Fargo pick we’ll look at is a tech firm in the networking security niche, Zscaler. Zscaler’s unique selling point is the Zero Trust Exchange, or as the company puts it, ‘the world’s largest security cloud.’ This platform securely connects apps, devices, and users on any network, and provides the improvements to confidence, online navigation, and business apps necessary for improved productivity. The Zero Trust Exchange works at multiple levels, from machine-to-machine to app-to-user to app-to-app.
Since its founding in 2007, Zscaler has worked to leverage its network security expertise to turn the internet into the corporate world’s cloud. A look at some aggregate numbers makes it clear just how big Zscaler’s target market actually is. The company boasts that its platform processes more than 300 trillion daily signals, to generate a powerful artificial intelligence/machine learning effect. These include over 280 billion daily transactions, leading to some 9 billion incident and policy violations…
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