Zscaler, Inc. (ZS) Stock Price, News, Analysis

Technical Score (1D)

100

BUY

News Sentiment

BEARISH

Bernstein’s upgrade to Outperform and the lift of Zscaler’s price target to $298, announced 31 hours ago, signals renewed confidence that the firm can capture a larger share of the expanding cloud‑security market, a view that will shape short‑term allocation decisions. The upgrade follows Q2 earnings that beat consensus by 1.7 percent, reinforcing the narrative that ZS’s zero‑trust platform continues to drive adoption as enterprises migrate workloads to the cloud. However, the company’s Q4 results, released 52 hours ago, show a 25 percent year‑over‑year revenue rise to $898 million but also reveal a deceleration in ARR growth, raising concerns that the high‑growth trajectory may be harder to sustain. This slowdown is echoed in the fiscal‑2027 guidance, which now projects a roughly one‑third reduction in growth, a gap that management attributes to sales transition and product‑adoption lag, creating a moderate headwind for the near term. Wedbush’s recent upgrade to Outperform with a $215 target, issued 78 hours ago, underscores that analysts still see upside but are tightening near‑term expectations, a stance that will influence institutional positioning. The broader market context—where ZS shares rallied sharply amid a decline in the S&P 500 and rising Treasury yields—suggests that investor confidence in ZS’s cloud‑security moat remains resilient, but the rally may be a short‑term reaction to analyst sentiment. Sector rotation into enterprise cybersecurity has further buoyed the stock, indicating that demand for ZS’s offerings is likely to stay robust over the next 1–10 trading days. Looking ahead, the launch of the Agentic SOC with AI agents, announced 139 hours ago, and the addition of six new AI‑security products, highlighted by the CEO at Citi, represent significant new revenue engines that could offset ARR slowdown if sales traction accelerates. Traders should watch for the next earnings call for any updates on guidance, especially whether the company can translate its AI‑security bookings into sustained ARR growth, and for any commentary on competitive positioning that may clarify the impact of the decelerating ARR trend.

ZS|Analyst Targets

LOW TARGET

$155 -21.7%

2 analysts

MEAN TARGET

$209 +5.5%

21 analysts

HIGH TARGET

$298 +50.6%

36 analysts

PRICE RANGE

$155.00 - $298.00

SB / B / H / S / SS

16/29/12/1/1

DAILYIQ EST.

$222.75 (+12.5%)

ZS|Company Info

Sector

Technology

Industry

Software - Infrastructure

Exchange

NMS

Country

United States

Website

zscaler.com

Symbol

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.

ZS|Insider Trading

Bought (1Y)

0 shares

Sold (1Y)

46,537 shares

$7.6M

BEER JAMES A-

Sell177 shares2026-09-17

Geller AdamChief Product Officer

Sell4,584 shares2026-09-17

Schlossman RobertChief Legal Officer

Sell2,325 shares2026-09-16

Rich Michael J.CRO and President of WW Sales

Sell4,108 shares2026-09-16

Geller AdamChief Product Officer

Sell5,578 shares2026-09-16

ZS|Fundamentals

Bullish

Verdict: 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%

ZS|Earnings Snapshot

Earnings Summary

Zscaler, Inc. is a global cloud security provider offering a comprehensive Zero Trust platform that includes Internet Access, Private Access, Zero Trust Firewall, and advanced AI‑driven security products across multiple industries, positioning it firmly within the technology software‑infrastructure sector. In Q4 2024 the company posted EPS of $0.78 versus an estimate of $0.69, and revenue of $647.9 million, while in Q4 2026 EPS rose to $1.19 against an estimate of $1.12 and revenue of $898.19 million, slightly below the $903.71 million estimate; the two most recent quarters show a modest EPS acceleration and a small revenue deceleration, with the company beating earnings estimates in both periods. Historically, Zscaler has delivered double‑digit YoY revenue growth, with Q4 2026 revenue up 25 % YoY and ARR expanding 25 % to $3.77 billion, yet the pace of ARR growth has begun to decelerate, indicating a potential plateau; the firm has consistently beat EPS estimates in the last four quarters while revenue growth has remained strong even when EPS misses have occurred. Recent news highlights a 25 % YoY revenue jump and a 25 % rise in ARR, but also signals a slowing ARR expansion that could pressure valuation multiples; the company’s launch of the Agentic SOC AI‑driven threat detection platform introduces a new high‑margin revenue engine, and Wedbush’s upgrade to Outperform reflects renewed investor confidence. Investors should watch for guidance on the Agentic SOC’s contribution to top‑line growth, any cost‑control initiatives that may improve margins, and broader cybersecurity spend trends that could influence demand; key will be how the company balances decelerating ARR growth with continued EPS strength in the next earnings cycle.

Read full report

EPS

EstBeatMiss

Qtr	Est	Actual	+/−
Q1'27	$1.16	-	-
Q4'26	$1.12	$1.19	+6.5%
Q2'26	$0.92	$1.01	+9.4%
Q4'24	$0.69	$0.78	+12.7%

Revenue

EstBeatMiss

Qtr	Est	Actual	+/−
Q1'27	$966M	-	-
Q4'26	$904M	$898M	-0.6%
Q2'26	$823M	$816M	-0.9%
Q4'24	-	$648M	-

Full Earnings BreakdownEstimates, actuals, guidance, and historical context

→

ZS|Monthly Returns

Market Data

ZS Stock Snapshot

BUY100/100

$197.93+$0.69 (0.3%)

Market cap: 26.83B
Day range: $192.65 – $199.76
News sentiment: 38/100 · Bearish
Analyst target: $208.86 (+5.5%)
Consensus: Buy · 59 analysts

52-week range+72.7% off low · -41.3% from high

$114.62$336.99

Price $197.93 DailyIQ Est. $222.75

Trend, momentum and range position line up bullish on ZS at the moment. 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): 74.5% 86th pct
Below its peak: -46.8%
vs 200-day average: +17.3%
Up days (1y): 51%

Zscaler, Inc. is currently running 74.5% annualised volatility over the last 21 sessions. Measured against ZS's own 8 years of daily returns rather than a market-wide average, that is the 86th percentile — elevated for this stock, against a typical reading of 49.4%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.

ZS is trading -46.8% below its running peak. Across 8 full years on file, its median worst-drawdown-in-a-year was -39.1%, 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 +17.3% from its 200-day moving average. Against every other day in its history, that gap ranks at the 59th percentile — a somewhat wider gap than its own norm. Over the past year ZS closed higher on 51% of sessions, and it is currently 1 session into a falling streak.

On September specifically: over 9 years of records, ZS finished the month higher 4 of 9 times, with a median return of -1.6% and an average of -2.5%. Its strongest month historically has been May at +10.0% on average, its weakest February at -4.5%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.

Overnight risk is measurable too: ZS has opened more than 2% away from the prior close in 131 of 2,138 sessions (6.1% of the time), with the largest gaps running +7.0% and -8.7%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.

All figures computed from 2,139 daily closes between 2018-03-16 and 2026-09-18, 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 Technology sector, currently ranked 1st of 11 GICS sectors by relative-strength rotation score (leading). Within its narrower Software industry group, ZS ranks 3rd of 15 tracked industries, leading.

Sector rank: #1 of 11
Sector state: Leading
Sector rotation score: 90
Industry rank: #3 of 15

Options Market

What is the options market pricing for ZS?

CallsPuts

For Zscaler, Inc.'s nearest expiry (2026-09-25, 6 days out), open interest is roughly balanced between puts and calls (put/call ratio of 0.96), with at-the-money implied volatility around 55.1%. The options market is pricing roughly a ±7.1% move by that expiry — a range of about $164.78–$190.08.

Put/call ratio (2026-09-25): 0.96
ATM implied volatility: 55.1%
Total open interest: 11,440
Expected move by 2026-09-25: ±7.1% ($164.78–$190.08)

Analyst Rating Changes

Are analysts turning bullish or bearish on ZS?

Bernstein most recently reiterated its rating on Zscaler, Inc. to Outperform on Sep 17, 2026 with a price target of $298 (from $224). Over the last 90 days, coverage has run 0 upgrades against 0 downgrades, a net mixed lean.

Latest action: Bernstein — Outperform
90-day upgrades: 0
90-day downgrades: 0
Net rating momentum: 0

Date	Firm	Action	Rating	Price target
Sep 17, 2026	Bernstein	Maintained	Outperform	$224 → $298
Sep 8, 2026	Citigroup	Maintained	Buy	$175 → $205
Sep 4, 2026	Macquarie	Maintained	Outperform	$172 → $200
Sep 4, 2026	Piper Sandler	Maintained	Neutral	$160 → $175
Sep 4, 2026	Morgan Stanley	Maintained	Equal-Weight	$145 → $165
Sep 4, 2026	BMO Capital	Maintained	Outperform	$178 → $200
Sep 4, 2026	Baird	Maintained	Outperform	$220 → $230
Sep 4, 2026	Wells Fargo	Maintained	Overweight	$210 → $215
Sep 4, 2026	RBC Capital	Maintained	Outperform	$200 → $210
Sep 4, 2026	TD Cowen	Reiterated	Buy	$200
Sep 4, 2026	Scotiabank	Maintained	Sector Outperform	$175 → $200
Sep 4, 2026	Canaccord Genuity	Maintained	Buy	$210

ZS Competitive Positioning

Zscaler, Inc. (ZS) is tracked alongside these names in Software - Infrastructure on DailyIQ — ranked by market cap, with today's move alongside.

ZSyou're hereZscaler, Inc.$26.8B+0.35%
PLTRPalantir Technologies Inc.$423.5B+0.50%
CRWDCrowdStrike Holdings, Inc.$251.6B-0.30%
VRSNVeriSign, Inc.$26.4B+0.02%
CPAYCorpay, Inc.$26.3B-0.31%
SSentinelOne, Inc.$7.8B+0.71%

Held by These ETFs

ZS is a top holding in these ETFs tracked on DailyIQ — bar length shows portfolio weight.

News Sentiment Analysis

Sentiment gathered from recent headlines

38/100

Strong NegativeNeutralStrong Positive

BEARISH

Recent News Coverage

Most recent articles, ranked by recency (click to expand).

10+ articles

What did this article say?

Zscaler CEO Jay Chaudhry sold 2,852 shares on September 16, 2026, as disclosed in a Form 4 filing. The transaction was a non‑discretionary sale to meet tax withholding obligations triggered by vested restricted stock units. The sale price of $192.76 per share was close to the market close price of $191.58, indicating no significant price impact. The CEO retains a large indirect equity position through family trusts and other entities. No change in ownership structure or investment stance is implied by the sale.

What did this article say?

Zscaler’s fiscal 2026 results show a 25% revenue and ARR increase, but net new ARR growth of 17% signals a slowdown that management expects to cool to the high teens next year. Deferred revenue growth has fallen to 18.5% and free‑cash‑flow margin dropped 500 basis points to 25.4%, reflecting higher capex amid memory shortages. The company’s NTM price‑to‑earnings has already slipped to about 40x from a 64x average, indicating that the market has priced in much of the deceleration before FY27 begins.

What did this article say?

Bernstein analyst Peter Weed has upgraded Zscaler to Outperform and lifted the price target from $224 to $298, citing stronger cloud security demand and recent product launches. The upgrade reflects confidence in Zscaler’s ability to capture market share in the growing SaaS security space. Investors should monitor upcoming earnings for revenue growth and margin expansion, as well as any new partnership announcements that could further validate the target.

What did this article say?

Zscaler reported Q2 results that surpassed analyst consensus, contributing to a broader cybersecurity rally. The company’s zero‑trust platform continues to drive adoption as enterprises migrate workloads to the cloud, exposing new threat vectors. Revenue growth outpaced expectations, and guidance for the next quarter was raised modestly, reinforcing confidence in the firm’s growth trajectory. Investors should watch for the upcoming earnings call for updated guidance and any comments on competitive positioning.

What did this article say?

Zscaler reported a 25% YoY revenue rise to $898.2 million and a 25% increase in ARR to $3.77 billion, underscoring robust growth. However, the pace of ARR expansion has begun to decelerate, raising concerns that the company may struggle to sustain its high growth trajectory. Analysts remain upbeat, with an Outperform rating and a $190 price target, but the slowing ARR could weigh on investor sentiment if the trend continues. The firm’s focus on data security, AI security, and Zero Trust remains a key differentiator, yet the margin improvement signals a need for tighter cost control.

What did this article say?

Zscaler reported 25% ARR growth last year and highlighted AI as its biggest tailwind, signaling strong demand confidence. However, fiscal 2027 guidance now projects growth to slow by roughly a third, creating a gap between the optimistic demand narrative and the expected trajectory. Management cites sales transition and new‑product adoption pace as reasons for the tempered outlook, suggesting execution risk. The contrast between AI enthusiasm and a cautious guidance downgrade introduces a moderate negative bias for the stock.

What did this article say?

Zscaler (ZS) stock rallied 16.5% after Wedbush upgraded the company to Outperform with a new bullish thesis. The move reflects confidence in ZS’s cloud security platform and its ability to capture growing demand for secure remote access. The rally is a short‑term price reaction to the rating change, but it signals renewed analyst optimism and could influence institutional allocation decisions. Traders should monitor subsequent earnings guidance and any follow‑up analyst commentary for further confirmation of the upside thesis.

What did this article say?

Zscaler’s stock advanced sharply during a broader market decline, reflecting investor confidence in its cloud security platform. The rally came as U.S. Treasury yields crossed the 5% threshold and oil prices spiked, creating a volatile backdrop. The move suggests that demand for Zscaler’s SaaS offerings remains robust despite macro‑headwinds. Traders should watch for any earnings guidance that could confirm the strength of the current upside. The company’s recent product launches and partnership announcements may further support its valuation. Overall, the positive price action indicates a modest tailwind for Zscaler in the near term.

What did this article say?

Zscaler shares jumped sharply on Monday as investors shifted capital toward enterprise cybersecurity firms. The move reflects a broader sector rotation favoring cloud‑based security solutions. The rally suggests renewed confidence in ZS’s growth prospects and could support a higher valuation.

What did this article say?

Zscaler announced its new Agentic SOC, a network of specialized AI agents that monitor and respond to threats across its zero‑trust platform. The company highlighted the proxy‑based inspection engine that protects AI agents from data leakage and model poisoning. Executives projected that the Agentic SOC will become a significant revenue driver over the next several years, complementing ZS’s core business and early‑access AI‑agent security product. The announcement signals strong growth potential and reinforces ZS’s position as a leader in AI‑enabled cybersecurity.

Technical Analysis

Real-time indicators across multiple timeframes

100

BUY

Technical indicators reflect the latest computed signal mix for this timeframe.

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Institutional & Hedge Fund Ownership

25 tracked managers · $8.06B combined position · 16 adding, 5 trimming, 4 unchanged (latest 13F filings)

Manager	Trend	Shares Held	% of Co.	Position Value	Filed
Vanguard Group Inc	▲ Buy	11,423,424	8.43%	$2.57B	2026-01-29
BlackRock, Inc.	▲ Buy	9,890,384	7.30%	$1.40B	2026-08-07
Susquehanna International Group, LLP	▲ Buy	4,877,657	3.60%	$688.48M	2026-08-14
Goldman Sachs Group Inc	▲ Buy	3,542,148	2.61%	$499.97M	2026-08-14
Citadel Advisors LLC	• Hold	3,332,095	2.46%	$470.33M	2026-09-02
Millennium Management LLC	▲ Buy	2,245,091	1.66%	$316.89M	2026-08-14
Geode Capital Management, LLC	▲ Buy	2,090,724	1.54%	$294.32M	2026-08-12
Tiger Global Management LLC	• Hold	1,579,766	1.17%	$221.63M	2026-05-15
AQR Capital Management LLC	▲ Buy	1,363,319	1.01%	$192.43M	2026-08-14
D. E. Shaw & Co., Inc.	▲ Buy	1,280,403	0.94%	$180.73M	2026-08-14
Squarepoint Ops LLC	▼ Sell	1,140,936	0.84%	$161.04M	2026-08-14
Morgan Stanley	▼ Sell	1,136,698	0.84%	$160.45M	2026-08-13
Wellington Management Group LLP	▲ Buy	1,103,212	0.81%	$155.72M	2026-08-14
Citigroup Inc	▲ Buy	772,488	0.57%	$109.04M	2026-08-03
Northern Trust Corp	▲ Buy	708,467	0.52%	$100.00M	2026-08-13
Janus Henderson Group plc	• Hold	541,671	0.40%	$76.00M	2026-05-18
Moore Capital Management, LP	• Hold	50,668,000	37.38%	$67.16M	2025-08-12
JPMorgan Chase & Co	▲ Buy	476,414	0.35%	$65.55M	2026-08-12
Bank of America Corp	▼ Sell	444,111	0.33%	$62.69M	2026-08-14
Norges Bank	▲ Buy	411,216	0.30%	$58.04M	2026-08-12
Artisan Partners Limited Partnership	▼ Sell	385,216	0.28%	$54.04M	2026-05-13
Point72 Asset Management, L.P.	▲ Buy	355,400	0.26%	$50.16M	2026-08-14
FMR LLC (Fidelity)	▼ Sell	350,831	0.26%	$49.52M	2026-08-13
Balyasny Asset Management L.P.	▲ Buy	225,865	0.17%	$31.88M	2026-08-14
Man Group plc	▲ Buy	208,854	0.15%	$29.48M	2026-08-14

Q2 2026 flow:6.75M sh bought ($952.37M)2.45M sh sold ($346.21M)net +4.30M sh (+$606.15M)

Congressional Trading Activity

1 disclosed trades · ~$8.0K est. traded value · 0 buys, 1 sells

Member	Chamber	State	Type	Amount	Traded	Filed
Rob Bresnahan	House	PA08	▼ Sell	$1K - $15K	2025-01-13	2025-02-13

ZS·Zscaler, Inc.

EPS

Revenue

ZS Stock Snapshot

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

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

What is the options market pricing for ZS?

Are analysts turning bullish or bearish on ZS?

ZS Competitive Positioning

Held by These ETFs

News Sentiment Analysis

Recent News Coverage

Technical Analysis

Real-time indicators across multiple timeframes

News Sentiment Analysis

Recent News Coverage

Technical Analysis

Real-time indicators across multiple timeframes

Market Status

Recently Viewed

Portfolio

Email Alerts

Portfolio News

Economic Events

Earnings Events

Economic News

ZS·Zscaler, Inc.

EPS

Revenue

ZS Stock Snapshot

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

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

What is the options market pricing for ZS?

Are analysts turning bullish or bearish on ZS?

ZS Competitive Positioning

Held by These ETFs

News Sentiment Analysis

Recent News Coverage

Technical Analysis

Real-time indicators across multiple timeframes

Discover More

News Sentiment Analysis

Recent News Coverage

Technical Analysis

Real-time indicators across multiple timeframes

Discover More

Market Status

Recently Viewed

Portfolio

Email Alerts

Portfolio News

Economic Events

Earnings Events

Economic News