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DailyIQ
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ZS·Zscaler, Inc.

$205.07
+1.19 (+0.58%)
High
$213.50
Open
$209.53
Market Cap
33.38B
52W High
$334.50
Low
$200.75
P. Close
$205.07
P/E
-
52W Low
$114.62
Fwd P/E
36.26
DailyIQ Est.
$248.20
Inst. Own.
42.3%
Short Interest
3.71%
Days to Cover
2.1
NewEarnings release, scored · filed Sep 3, 2026New outlook issued · tone +1.5 vs prior release · 49 lines scoredSee the breakdown
Technical Score (1D)
8
BEARISH
News Sentiment
44
BEARISH
On Nov 5, Zscaler (ZS) closed at $203.88, down 9.16% as the S&P 500 fell 4.36% and the Nasdaq lost 5.52%. The decline outpaced the broader market and was described by analysts as a short‑term reaction rather than a fundamental shift in the company’s outlook. On the same day, Zscaler announced that it will release its first‑quarter fiscal year 2027 earnings after the market close on Dec 2, 2026, and will host an investor conference call at 1:30 p.m. Pacific Time to discuss the results. The announcement was characterized as a routine update on the company’s earnings schedule with no change to financial performance expectations. Both developments were reported on Nov 5.
LOW TARGET
$165 -19.7%
2 analysts
MEAN TARGET
$235 +14.7%
29 analysts
HIGH TARGET
$298 +45.3%
29 analysts
PRICE RANGE
$164.75 - $298.00
SB / B / H / S / SS
16/30/12/1/1
DAILYIQ EST.
$248.20 (+21.0%)
Sector
Technology
Industry
Software - Infrastructure
Exchange
NMS
Country
United States
Symbol
ZS
Description
Zscaler, Inc. operates as a cloud security company worldwide. The company offers cyberthreat protection products, including Zscaler Internet Access, which provides threat protection, cloud sandbox, and cloud browser isolation; Zscaler Private Access solution that includes cyberthreat and data protection, application discovery, secure application access, application segmentation, application protection, reduced attack surface, and browser isolation; Zero Trust Firewall; Cloud Sandbox; and Zero Trust Browser. It also provides data security products, such as web and email DLP, endpoint DLP, BYOD security, multi-mode CASB, unified SaaS security, DSPM, AI-SPM, public gen AI security, and Microsoft Copilot data protection; Zero Trust Cloud solution. In addition, the company offers Zero Trust Branch comprising Zero Trust SD-WAN; IoT/OT segmentation; privileged remote access; Zscaler Cellular; and Zscaler Digital Experience that measures end-to-end user experience across business applications, as well as provides an easy-to-understand digital experience score for each user, application, and location within an enterprise. Further, it provides security operations products, including data fabric for security; asset exposure management; Risk360; unified vulnerability management; deception; managed detection and response; and managed threat hunting. Additionally, the company offers Zero Trust Gateway, a fully managed Zscaler service. It serves the automotive, airlines and transportation, conglomerates, consumer goods and retail, energy, financial services, healthcare, insurance, manufacturing, media and communications, public sector and education, technology, and telecommunications services industries. The company was formerly known as SafeChannel, Inc., and changed its name to Zscaler, Inc. in August 2008. Zscaler, Inc. was incorporated in 2007 and is headquartered in San Jose, California.
Bought (1Y)
0 shares
$0
Sold (1Y)
79,623 shares
$14.9M
Geller AdamChief Product Officer
Option Exercise1,041 shares2026-11-02
Geller AdamChief Product Officer
Sell1,041 shares2026-11-02
Geller AdamChief Product Officer
Option Exercise1,041 shares2026-11-02
RUBIN KEVINChief Financial Officer
Sell252 shares2026-10-26
RUBIN KEVINChief Financial Officer
Sell120 shares2026-10-26
70/ 100
Bullish
Overall: Bullish
✓Revenue growing year over year
✕Negative net margin
✓Positive operating cash flow
Gross Margin
76.8%
Net Margin
-1.9%
Revenue CAGR
45.2%
Current Ratio
1.70x
Debt / Equity
0.44x
Return on Equity
-2.4%

EPS

EstBeatMiss
$0.62$0.78$0.94$1.11$1.27Q4'24Q2'26Q4'26Q1'27
QtrEstActual+/−
Q1'27$1.19 - -
Q4'26$1.09$1.19+9.2%
Q2'26$0.92$1.01+9.4%
Q4'24$0.69$0.78+12.7%

Revenue

EstBeatMiss
$600M$704M$807M$910M$1.0BQ4'24Q2'26Q4'26Q1'27
QtrEstActual+/−
Q1'27$966M - -
Q4'26$904M$898M-0.6%
Q2'26$823M$816M-0.9%
Q4'24 - $648M -

Market Data

ZS Stock Snapshot

BEARISH8/100
$205.07+$1.19 (0.6%)
Market cap
33.38B
Day range
$200.75 – $213.50
News sentiment
44/100 · Neutral
Analyst target
$235.19 (+14.7%)
Consensus
Buy · 60 analysts
52-week range+78.9% off low · -38.7% from high
$114.62$334.50
Price $205.07 DailyIQ Est. $248.20

Price action on ZS is defensive - rallies are being sold rather than extended. Sector peers are worth watching - large caps in Technology tend to move together on rotation.

Behaviour On Record

What ZS's own history says about today's numbers

Realized volatility (21d)
67.6% 79th pct
Below its peak
-41.4%
vs 200-day average
+30.4%
Up days (1y)
51%

Zscaler, Inc. is currently running 67.6% annualised volatility over the last 21 sessions. Measured against ZS's own 9 years of daily returns rather than a market-wide average, that is the 79th percentile — elevated for this stock, against a typical reading of 49.7%.

ZS is trading -41.4% below its running peak. Across 9 full years on file, its median worst-drawdown-in-a-year was -39.3%, and the deepest was -64.4% in 2022. The current drawdown is already deeper than this stock's typical annual low point, which puts it in the part of its range where past recoveries began, and where past declines also continued.

Price sits +30.4% from its 200-day moving average. Against every other day in its history, that gap ranks at the 74th percentile — a somewhat wider gap than its own norm. Over the past year ZS closed higher on 51% of sessions, and it is currently 2 sessions into a falling streak.

On November specifically: over 8 years of records, ZS finished the month higher 6 of 8 times, with a median return of +13.6% and an average of +6.3%. Its strongest month historically has been May at +10.0% on average, its weakest February at -4.5%.

Overnight risk is measurable too: ZS has opened more than 2% away from the prior close in 132 of 2,172 sessions (6.1% of the time), with the largest gaps running +7.0% and -8.7%.

All figures computed from 2,173 daily closes between 2018-03-16 and 2026-11-05, split-adjusted, recomputed daily. Percentiles are against ZS's own 9-year history, not a peer group or index.

Sector Rotation

Is money rotating into or out of ZS's sector?

Zscaler, Inc. sits in the Software sector, currently ranked 11th of 12 GICS sectors by relative-strength rotation score (lagging). Within its narrower Software industry group, ZS ranks 12th of 15 tracked industries, lagging.

Sector rank
#11 of 12
Sector state
Lagging
Sector rotation score
18
Industry rank
#12 of 15

Options Market

What is the options market pricing for ZS?

CallsPuts

For Zscaler, Inc.'s nearest expiry (2026-11-06, 0 days out), open interest is call-heavy, a bullish tilt (put/call ratio of 0.74), with at-the-money implied volatility around 84.1%.

Put/call ratio (2026-11-06)
0.74
ATM implied volatility
84.1%
Total open interest
9,513

Analyst Consensus Estimates

What do analysts expect ZS to earn?

Analysts expect Zscaler, Inc. to earn $4.91 per share in the fiscal year ending Jul 2027 and $1.47 in the fiscal year ending Jul 2029, from 5 estimates. These are analyst forecasts, not company guidance, and later years rest on fewer analysts.

Quarter endingEPS estimateEPS rangeEPS analystsRevenue estimateRevenue analysts
Oct 2026$1.16$1.15 to $1.2041$938M42
Jan 2027$1.18$1.14 to $1.2941$958M41
Apr 2027$0.19$0.14 to $0.2211~$1.07B-
Oct 2027$0.16$0.00 to $0.2911--
Fiscal year endingEPS estimateEPS rangeEPS analystsRevenue estimateRevenue analysts
Jul 2027$4.91$4.86 to $5.4244$3.93B46
Jul 2028$5.62$4.68 to $6.7843$4.58B43
Jul 2029$1.47$0.86 to $1.845--

Revenue marked ~ is our calculation from the EPS estimate, not analyst consensus.

Analyst Rating Changes

Are analysts turning bullish or bearish on ZS?

Freedom Broker most recently reiterated its rating on Zscaler, Inc. to Buy on Oct 22, 2026 with a price target of $270 (from $230). Over the last 90 days, coverage has run 0 upgrades against 0 downgrades, a net mixed lean.

Latest action
Freedom Broker: Buy
90-day upgrades
0
90-day downgrades
0
Net rating momentum
0
DateFirmActionRatingPrice target
Oct 22, 2026Freedom BrokerMaintainedBuy$230 → $270
Oct 21, 2026DA DavidsonInitiatedNeutral$215
Oct 15, 2026CitigroupMaintainedBuy$245 → $260
Oct 9, 2026CitizensMaintainedMarket Outperform$210 → $265
Oct 8, 2026AmerxInitiatedBuy$305
Oct 7, 2026MacquarieMaintainedOutperform$200 → $250
Oct 7, 2026UBSMaintainedBuy$225 → $250
Oct 7, 2026CitigroupMaintainedBuy$205 → $245
Oct 7, 2026JefferiesMaintainedBuy$220 → $250
Oct 7, 2026Canaccord GenuityMaintainedBuy$210 → $250
Oct 7, 2026BNP ParibasReiteratedOutperform$230 → $250
Oct 7, 2026Truist SecuritiesReiteratedBuy$200 → $250

Earnings Release, Scored

What did Zscaler, Inc.'s latest earnings release say?

Filed Sep 3, 2026 · SEC Form 8-K, Exhibit 99

New outlook issued
Tone72.3/ 100+1.5 vs prior release
Hedging words1.26per 100 words+0.35 vs prior release
Tone, last 2 releasesScale 50–78

Most important lines

  1. 1

    Revenue: Grew 25% year over year to $898.2 million.

    New this quarter
  2. 2

    Revenue: Grew 25% year over year to $3,353 million.

    New this quarter
  3. 3

    Generates Q4 and FY26 ARR growth of 25% year over year

    New this quarter

Peers & ETF holders

ZS peers & ETF holders

News & sentiment

What is the news saying about ZS?

ZS fell 3.5% over the month to Nov 6. News tone held between 61 and 91 from Oct 6 to Oct 15, then dropped to 54 on Oct 16.

Daily close and news tone, Oct 6 to Nov 6
$200$225$250Oct 6: tone 61Oct 7: tone 67Oct 8: tone 72Oct 9: tone 65Oct 12: tone 91Oct 13: tone 74Oct 14: tone 76Oct 15: tone 84Oct 16: tone 54Oct 19: tone 48Oct 20: tone 58Oct 21: tone 68Oct 22: tone 71Oct 23: tone 60Oct 26: tone 72Oct 27: tone 63Oct 28: tone 34Oct 29: tone 27Oct 30Nov 2: tone 42Nov 3: tone 64Nov 4: tone 50Nov 5: tone 36Nov 6Oct 6News toneNov 6123
  1. Oct 9 +7.2%same day: Can Zscaler (ZS) Still Look Undervalued On Reaffirmed 2027 Guidance And AI Security Goals?
  2. Oct 23 +8.3%same day: Why Did Zscaler (ZS) Move Today?
  3. Nov 5 -9.2%same day: Zscaler to Host First Quarter Fiscal Year 2027 Earnings Conference Call

Technical analysis

How strong is ZS's momentum right now?

On the daily chart ZS ranks at the 8th percentile for momentum against 1,060 stocks and ETFs, a bearish reading.

Momentum rank by timeframe0 = weakest, 100 = strongest
See what drives the rankThe inputs behind each timeframe's momentum rank, plus RSI, stochastics, Bollinger Bands and moving averages. Free with an account.

Institutional ownership

Are big funds buying or selling ZS?

89 of the 189 tracked managers added to ZS in their latest 13F and 97 trimmed. Together they own 42.3% of the company, worth $9.8B. BlackRock and Vanguard Portfolio Management alone hold 10.0%.

89adding97trimming3unchanged
Largest holders by stake, latest 13FBar = share of ZS
  1. $1.4B positionAdded 15.4% last quarter
  2. $874.7M positionAdded 4.5% last quarter
  3. $666.4M positionAdded 1.3% last quarter
  4. $498.1M positionAdded 0.3% last quarter
  5. $446.3M positionAdded 8.1% last quarter
  6. $352.0M positionAdded 4.6% last quarter
  7. $294.3M positionAdded 0.2% last quarter
  8. $244.4M positionTrimmed 11.9% last quarter
  9. $236.4M positionAdded 7.7% last quarter
  10. $192.4M positionAdded 34.2% last quarter
Full holdings history

Congressional trading

Is Congress trading ZS?

1 member of Congress disclosed 1 ZS trade on Jan 13, 2025: 1 sell, about $8.0K in estimated value.

BuysSellsJan
BuySell$1K–$15K$15K–$50K$50K–$100K$100K–$250K

Discover more

How has ZS done against its peers?

Over the six months to Nov 6, ZS returned +45.9%. Of the 15 related stocks and ETFs, 3 did better, led by SNOW at +93.1%.

Change since May 6, through Nov 6
−100%0%+100%+200%May 6JunJulAugSepOctNov 6SNOW +93.1%ZS +45.9%ORCL −39.1%