Zscaler (ZS) Stock Overview
Operates as a cloud security company worldwide. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 4/6 |
| Past Performance | 0/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
ZS Community Fair Values
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Analyst Price Targets
Top Community Narratives
Zscaler, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$164.54 |
| 52 Week High | US$336.99 |
| 52 Week Low | US$114.63 |
| Beta | 0.95 |
| 1 Month Change | -7.21% |
| 3 Month Change | 27.04% |
| 1 Year Change | -41.90% |
| 3 Year Change | 5.41% |
| 5 Year Change | -40.31% |
| Change since IPO | 398.61% |
Recent News & Updates
Recent updates
Seeking Alpha • Sep 04
Zscaler Is Very Cheap, But I'm Not Convinced After Fiscal Q4 Earnings
Summary Zscaler, Inc. delivered strong Q4 results, with 25% YoY revenue growth and a record non-GAAP operating margin, but guides for decelerating growth in fiscal 2027. ZS trades at a historically low forward P/E of ~36x, offering relative value, yet it lacks the explosive AI-driven growth seen in leading cybersecurity peers. Large-deal activity surged, with Fortune 500 penetration reaching 50% and net retention rate at 115%, indicating solid enterprise adoption and expansion. ZS remains a patient investor play, as future growth is likely priced in and near-term upside is limited by competitive intensity and modest AI innovation. Read the full article on Seeking Alpha
New Narrative • Sep 04
Zscaler: The Market May Still Be Treating AI Security As An Add-On. Management Is Betting It Becomes The Platform.
The market largely views Zscaler as a Zero Trust networking company. I think that framing increasingly understates where future value creation could come from.
Narrative Update • Sep 04
ZS: AI Security Budget Shifts And Tactical Underperform Risk Will Pressure Returns
Analysts have lifted the modeled fair value for Zscaler to about $149 from about $145, reflecting a mix of higher assumed revenue growth, a sharply lower profit margin input, and a much higher future P/E. This is framed against a series of recent price target increases and one tactically cautious view on the stock.
Narrative Update • Aug 21
ZS: Future Returns Will Rely On AI Security And Zero Trust Adoption
Analysts raised their fair value estimate for Zscaler, increasing the price target from about $193 to $197 as they considered recent target revisions that emphasize AI security, Zero Trust adoption, channel checks, and reseller surveys indicating solid security demand, along with continued debate about growth beyond FY27. Analyst Commentary Recent research on Zscaler shows a split between bullish analysts who emphasize product strength and security demand, and more cautious analysts who focus on execution risk and the medium term growth profile.Narrative Update • Jul 22
ZS: Mixed Outlook On Zero Trust Demand And Execution Will Shape Returns
For Zscaler, the analyst price target embedded in this narrative framework shifts from about $238 to $145 as analysts balance softer projected revenue growth and a lower future P/E with slightly firmer margin expectations and a modestly higher discount rate following mixed guidance and survey feedback. Analyst Commentary Recent research on Zscaler points to a mixed setup where solid reported quarters sit alongside more cautious outlooks.Narrative Update • Jul 08
ZS: Future Returns Will Rely On Zero Trust AI Security Demand
Zscaler's updated analyst price target reflects a reduced fair value estimate from about $228 to $193, as analysts factor in moderated revenue growth expectations, slightly lower projected profit margins, and a somewhat lower future P/E multiple following the recent wave of cautious target cuts tied to softer forward guidance and questions around sales execution. Analyst Commentary Recent Street research on Zscaler highlights a split view, with many analysts trimming price targets after the latest guidance while still pointing to long term demand for zero trust security and AI driven security solutions.
Narrative Update • Jun 24
ZS: AI Security And Zero Trust Leadership Will Drive Long Term Upside
Analysts have made a small upward adjustment to the Zscaler fair value estimate, to $246.04 from $245.26, reflecting mixed but generally constructive research that highlights the company as a leading Zero Trust security provider in a still-developing market, despite recent cuts to several Street price targets. Analyst Commentary Street research on Zscaler reflects a split view, with several firms trimming price targets after the latest guidance while still emphasizing the company’s position in Zero Trust security and multi-product adoption across secure access, data security, and AI-focused offerings.Narrative Update • Jun 06
ZS: AI Security Demand Will Drive Long Term Upside Despite Reset Expectations
Analysts have reset their view on Zscaler with a lower implied price target of about $245, reflecting trimmed revenue growth and profit margin assumptions, along with a higher future P/E multiple, while still pointing to demand for Zero Trust and AI security as key parts of the story. Analyst Commentary Recent research shows a split tape on Zscaler, with many firms trimming price targets after the latest guidance reset while still highlighting the company as a key Zero Trust and AI security platform.Narrative Update • May 23
ZS: AI Security And Platform Expansion Will Drive Long Term Upside
Analysts have trimmed the fair value estimate for Zscaler to about $309 from roughly $320, reflecting a slightly higher discount rate and lower future P/E multiples, even as they point to steady revenue growth expectations, improving profit margins, and ongoing interest in secure network access, AI related offerings, and platform expansion highlighted in recent research updates. Analyst Commentary Recent Street research on Zscaler reflects a mix of target cuts and reaffirmed positive views, with many firms citing broader software multiple compression rather than company specific issues as the main driver of lower price targets.Narrative Update • May 03
ZS: Future Returns Will Rely On Zero Trust AI Security Adoption
Analysts have trimmed the Zscaler fair value estimate by about $3 to roughly $228, reflecting lower price targets across the Street as peer security multiples reset, while still highlighting healthy core fundamentals and product momentum. Analyst Commentary Recent research on Zscaler reflects a mixed but engaged analyst community, with widespread price target reductions alongside generally constructive views on the core business, product pipeline, and longer term opportunities in zero trust and AI security.Narrative Update • Apr 18
ZS: Future Returns Will Rely On Zero Trust AI Security Leadership
Analysts have trimmed the Zscaler fair value estimate from about $304 to $230 as they recalibrate price targets in line with lower peer multiples, slightly softer growth and margin assumptions, and ongoing sector wide multiple compression, even as many still highlight healthy core fundamentals and long term opportunities. Analyst Commentary Recent research on Zscaler reflects a mixed but generally constructive view, with many firms cutting price targets while maintaining positive ratings.Narrative Update • Apr 04
ZS: Zero Trust AI Security And Data Sovereignty Set To Drive Upside
The analyst price target for Zscaler is adjusted slightly lower to $320.14, reflecting peer multiple compression across cybersecurity software. At the same time, analysts continue to highlight a healthy core business, expanding platform opportunities such as Red Canary and Agentic Exchange, and supportive views on AI security demand from recent research.Narrative Update • Mar 21
ZS: Zero Trust AI Security And Data Sovereignty Will Drive Future Upside
Analysts have trimmed the average price target for Zscaler, reflecting sector wide multiple compression. They continue to highlight a healthy core business, improving go to market execution, and new opportunities such as Red Canary and Agentic Exchange.Narrative Update • Mar 06
ZS: Zero Trust And AI Security Plus AI Defense Will Drive Future Upside
The analyst price target for Zscaler in our model has been revised lower from about $389 to about $326 as analysts factor in more moderate revenue growth assumptions, slightly higher discount rates, improved margin expectations, and lower future P/E multiples amid broader multiple compression across security software peers. Analyst Commentary Recent Street research on Zscaler reflects a mix of reduced price targets and generally supportive ratings, with many firms maintaining positive views on execution, margins, and the long term opportunity despite sector wide multiple compression.Narrative Update • Feb 20
ZS: Future Returns Will Rely On Zero Trust AI Security Leadership
Narrative Update: Zscaler We trim our Zscaler fair value estimate by about $13 to $304, reflecting lower assumed profit margins and a slightly less aggressive future P/E multiple, while analysts broadly reduce price targets on the stock even as they continue to highlight its Zero Trust leadership, AI security exposure, and potential for earnings beats. Analyst Commentary Recent Street research on Zscaler has shifted toward lower price targets, but most firms still frame the company as a key Zero Trust and AI security player with ongoing execution questions rather than a broken growth story.New Narrative • Feb 11
AI Security And Zero Trust Execution Risks Will Challenge Progress Yet Still Support Long-Term Upside
Catalysts About Zscaler Zscaler provides cloud delivered security services that help enterprises protect users, data and applications. What are the underlying business or industry changes driving this perspective?Narrative Update • Feb 05
ZS: Future Returns Will Rely On Expanding Zero Trust AI Security Adoption
Analysts have lowered their price targets for Zscaler by roughly $40 to $50, placing them in the $300 to $320 range. This reflects survey feedback on security budgets, shifts in peer multiples, and mixed read-throughs from recent ARR and emerging product trends.Narrative Update • Jan 22
ZS: Future Returns Will Rely On Expanding Zero Trust And AI Security Demand
Analysts have nudged their implied price expectations for Zscaler lower, trimming the fair value estimate by about US$10 to US$318.35. Recent cuts and modest increases in price targets across firms reflect more cautious views on security spending, peer multiples and competitive trends, even as research notes still point to solid ARR performance and interest in emerging products.Narrative Update • Jan 07
ZS: Zero Trust And AI Security Momentum Will Drive Long Term Upside
Analysts have nudged our Zscaler fair value estimate higher to about US$389 from US$385, reflecting a blend of slightly softer modeled revenue growth, modestly better margin expectations, and updated price targets that balance mixed ARR disclosure with continued confidence in emerging product traction and long term Zero Trust and AI security demand. Analyst Commentary Street research around the latest quarter paints a largely constructive picture, with price targets moving in both directions but commentary skewing toward confidence in Zscaler's execution on growth initiatives, especially in Zero Trust, AI Security, and Data Security offerings.Narrative Update • Dec 15
ZS: Future Returns Will Rely On Expanding Demand For Zero Trust Security
Analysts have modestly trimmed our Zscaler price target by a low single digit percentage to reflect slightly higher discount rates and a more balanced interpretation of Q1 results. Strong ARR growth and traction in emerging products were partially offset by mixed guidance, underwhelming bottom line performance, and uneven disclosure around inorganic contributions.Analysis Article • Dec 02
Zscaler, Inc.'s (NASDAQ:ZS) 27% Share Price Plunge Could Signal Some Risk
Zscaler, Inc. ( NASDAQ:ZS ) shareholders won't be pleased to see that the share price has had a very rough month...Narrative Update • Dec 01
ZS: Future Returns Will Rely On Sustained Demand For Cybersecurity Solutions
Zscaler's analyst price target saw a marginal increase of $0.25. Analysts cited solid emerging product traction and improved profit margin expectations, despite mixed operational results.Narrative Update • Nov 17
ZS: Future Share Performance Will Depend On Cybersecurity Demand And Competitive Dynamics
Zscaler's analyst-driven fair value estimate has increased slightly to $327.98 per share. This reflects ongoing optimism among analysts about continued growth opportunities in cybersecurity and resilient fundamentals, despite sector volatility.Narrative Update • Sep 04
Zero Trust And AI Security Will Unlock Future Markets
Analysts maintained Zscaler’s price target at $324.66, as robust Q4 results, platform leadership, and ongoing ARR growth balanced heightened concerns over valuation and FY26 growth visibility. Analyst Commentary Bullish analysts highlighted Zscaler’s strong fiscal Q4 results, consistent beats across key metrics, and positive initial FY26 guidance as validation of robust growth momentum and a solid go-to-market strategy.Shareholder Returns
| ZS | US Software | US Market | |
|---|---|---|---|
| 7D | -3.1% | -2.1% | -1.0% |
| 1Y | -41.9% | -9.0% | 14.1% |
Return vs Industry: ZS underperformed the US Software industry which returned -9% over the past year.
Return vs Market: ZS underperformed the US Market which returned 14.1% over the past year.
Price Volatility
| ZS volatility | |
|---|---|
| ZS Average Weekly Movement | 7.4% |
| Software Industry Average Movement | 9.3% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in US Market | 15.3% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: ZS has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: ZS's weekly volatility (7%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2007 | 8,700 | Jay Chaudhry | www.zscaler.com |
Zscaler, Inc. operates as a cloud security company worldwide. The company offers cyberthreat protection products, including Zero Trust SASE, a solution that securely connects workforces, AI agents, workloads, and IoT/OT devices to cloud apps and AI services; Zscaler Internet Access, which provides advanced threat protection, sandbox, and zero trust firewall; Zscaler Private Access solution that includes cyberthreat and data protection, application discovery, secure application access, application segmentation, application protection, and reduced attack surface; Zero Trust Browser, a solution that secures browser-based access to business applications for the extended workforce, including third parties and partners; Zscaler Digital Experience, a solution that monitors end-user experience and helps organizations identify and resolve performance issues across their digital environment; Zero Trust Branch; and Zero Trust Cloud solutions. It also provides Security for AI solution to secure AI adoption across the full AI ecosystem; data security services, including AI-powered data classification and contextual insights, data loss prevention, Saas security, and data security posture management solution.
Zscaler, Inc. Fundamentals Summary
| ZS fundamental statistics | |
|---|---|
| Market cap | US$26.66b |
| Earnings (TTM) | -US$63.18m |
| Revenue (TTM) | US$3.35b |
8.0x
P/S Ratio-424.7x
P/E RatioIs ZS overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ZS income statement (TTM) | |
|---|---|
| Revenue | US$3.35b |
| Cost of Revenue | US$775.37m |
| Gross Profit | US$2.58b |
| Other Expenses | US$2.64b |
| Earnings | -US$63.18m |
Last Reported Earnings
Jul 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.39 |
| Gross Margin | 76.87% |
| Net Profit Margin | -1.88% |
| Debt/Equity Ratio | 65.8% |
How did ZS perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/11 04:05 |
| End of Day Share Price | 2026/09/11 00:00 |
| Earnings | 2026/07/31 |
| Annual Earnings | 2026/07/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Zscaler, Inc. is covered by 58 analysts. 44 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Shrenik Kothari | Baird |
| Saket Kalia | Barclays |
| Rahul Chopra | Berenberg |