Zscaler (ZS) Stock Forecast & Price Target

Q: What analysts cover Zscaler?

Zscaler has been rated by research analysts at Barclays , BMO Capital Markets , BTIG Research , Canaccord Genuity Group , Cantor Fitzgerald , Citigroup , Deutsche Bank Aktiengesellschaft , Guggenheim , Jefferies Financial Group , JPMorgan Chase & Co. , KeyCorp , Mizuho , Morgan Stanley , Needham & Company LLC , Piper Sandler , Robert W. Baird , Rosenblatt Securities , Roth Capital , Royal Bank Of Canada , Sanford C. Bernstein , Scotiabank , Stephens , Stifel Nicolaus , TD Cowen , Wedbush , Weiss Ratings , Wells Fargo & Company , and Zacks Research in the past 90 days.

$198.78 -0.64 (-0.32%)

Closing price 10/1/2026 04:00 PM Eastern

Extended Trading

$199.40 +0.62 (+0.31%)

As of 06:00 AM Eastern

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Zscaler - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Moderate Buy

Based on 42 Analyst Ratings

Sell
2

Hold
6

Buy
34

Based on 42 Wall Street analysts who have issued ratings for Zscaler in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 42 analysts, 2 have given a sell rating, 6 have given a hold rating, and 34 have given a buy rating for ZS.

Consensus Price Target

$219.78
10.56% Upside

According to the 42 analysts' twelve-month price targets for Zscaler, the average price target is $219.78. The highest price target for ZS is $390.00, while the lowest price target for ZS is $150.00. The average price target represents a forecasted upside of 10.56% from the current price of $198.78.

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

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ZS Analyst Ratings Over Time

Type	Current Forecast 10/2/25 to 10/2/26	1 Month Ago 9/2/25 to 9/2/26	3 Months Ago 7/4/25 to 7/4/26	1 Year Ago 10/2/24 to 10/2/25
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	34 Buy rating(s)	34 Buy rating(s)	34 Buy rating(s)	29 Buy rating(s)
Hold	6 Hold rating(s)	6 Hold rating(s)	6 Hold rating(s)	8 Hold rating(s)
Sell	2 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$219.78	$216.18	$213.97	$307.43
Forecasted Upside	10.56% Upside	25.15% Upside	45.23% Upside	-0.05% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

ZS Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

ZS Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Zscaler Stock vs. The Competition

Type	Zscaler	Technology Companies	Broader Market
Consensus Rating Score	2.76	2.23	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	10.56% Upside	496.35% Upside	21.97% Upside
News Sentiment Rating	Positive News See Recent ZS News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export

Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/29/2026	Barclays 3 of 5 stars	Peter Weed Not Rated	Boost Target	Overweight	$200.00 ➝ $220.00	+10.34%
9/28/2026	Wedbush 5 of 5 stars	Steven Wahrhaftig Not Rated	Reiterated Rating	Outperform	$215.00	+11.37%
9/25/2026	Royal Bank Of Canada 3 of 5 stars	Matthew Hedberg 2 of 5 stars	Boost Target	Outperform	$210.00 ➝ $236.00	+17.51%
9/25/2026	Guggenheim Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	John DiFucci Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy
9/25/2026	Mizuho Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Gregg Moskowitz Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$210.00 ➝ $220.00	+2.50%
9/24/2026	Weiss Ratings Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Sell (E+) ➝ Sell (D-)
9/17/2026	Sanford C. Bernstein Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Peter Weed Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$224.00 ➝ $298.00	+55.55%
9/8/2026	Citigroup Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Fatima Boolani Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$175.00 ➝ $205.00	+20.73%
9/5/2026	Roth Capital Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Neutral	$170.00	+0.12%
9/4/2026	Scotiabank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Patrick Colville Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Outperform
Get the Latest News and Ratings for ZS and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Zscaler and its competitors with MarketBeat's FREE daily newsletter.
9/4/2026	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Brad Zelnick Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy
9/4/2026	Stephens Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Todd Weller Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$215.00	+27.06%
9/4/2026	Piper Sandler Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Rob Owens Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Neutral	$160.00 ➝ $175.00	-1.57%
9/4/2026	Morgan Stanley Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Meta Marshall Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Equal Weight	$145.00 ➝ $165.00	-7.20%
9/4/2026	Wells Fargo & Company Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Richard Poland Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$210.00 ➝ $215.00	+20.92%
9/4/2026	BMO Capital Markets Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Keith Bachman Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$178.00 ➝ $200.00	+12.49%
9/4/2026	Robert W. Baird Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Shrenik Kothari Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$220.00 ➝ $230.00	+36.69%
9/4/2026	TD Cowen Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Shaul Eyal Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy	$200.00	+13.11%
9/4/2026	Canaccord Genuity Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Kingsley Crane Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy	$210.00	+25.98%
9/4/2026	Needham & Company LLC Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Mike Cikos Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$180.00 ➝ $215.00	+20.92%
9/4/2026	Cantor Fitzgerald Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Andres Sheppard Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Overweight	$225.00	+26.55%
9/4/2026	Rosenblatt Securities Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Catharine Trebnick Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy	$200.00	+12.49%
9/4/2026	BTIG Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Gray Powell Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Neutral
9/3/2026	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Hold ➝ Strong Sell
9/2/2026	Jefferies Financial Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy	$220.00	+23.34%
8/26/2026	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Brian Essex Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$205.00 ➝ $215.00	+26.93%
8/21/2026	KeyCorp Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Eric Heath Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$185.00 ➝ $210.00	+20.03%
8/19/2026	Stifel Nicolaus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Adam Borg Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$175.00 ➝ $200.00	+7.68%
6/11/2026	Wolfe Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Outperform	$150.00	+20.26%
5/28/2026	Berenberg Bank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target		$200.00	+58.22%
5/27/2026	FBN Securities Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Outperform	$175.00	+38.02%
5/27/2026	UBS Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Roger Boyd Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$260.00 ➝ $225.00	+77.45%
5/27/2026	The Goldman Sachs Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Neutral	$179.00	-3.03%
5/27/2026	Truist Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Junaid Siddiqui Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$210.00	+65.83%
5/27/2026	Evercore Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target	Outperform ➝ In-Line	$155.00	-16.03%
5/27/2026	B. Riley Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Erik Suppiger Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$225.00 ➝ $215.00	+60.31%
5/18/2026	HC Wainwright Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Buy
5/1/2026	Citizens Jmp Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Rustam Kanga Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Market Outperform	$290.00 ➝ $210.00	+56.45%
3/10/2026	Oppenheimer Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Ittai Kidron Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Outperform	$280.00 ➝ $250.00	+59.47%
12/11/2025	Loop Capital Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Almas Almaganbetov Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$320.00	+32.33%
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11/26/2025	Capital One Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Connor Murphy Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Equal Weight ➝ Overweight	$320.00	+10.45%
11/26/2025	Bank of America Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Tal Liani Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$355.00 ➝ $335.00	+15.62%
10/31/2025	Macquarie Infrastructure Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Steve Koenig Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage	Outperform	$390.00	+21.10%
9/3/2025	Susquehanna Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Shyam Patil Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Positive	$320.00 ➝ $340.00	+30.08%
4/28/2025	BNP Paribas Exane Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Andrew DeGasperi Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade	Neutral ➝ Outperform	$260.00	+20.60%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 06:03 AM ET.

Should I Buy Zscaler Stock? ZS Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, September 29, 2026. Please send any questions or comments about these Zscaler pros and cons to contact@marketbeat.com.

Zscaler
Bull Case

Here are some ways that investors could benefit from investing in Zscaler, Inc.:

Zscaler, Inc. recently reported strong financial performance for the quarter ended September 3rd, 2026, with revenue of $898.19 million, which exceeded analyst estimates of $876.96 million and represented a 24.9% year-over-year increase. This consistent growth trajectory, supported by a positive return on equity of 1.23%, demonstrates the company's ability to expand its customer base and drive demand for its cloud-native security solutions.
The company has received significant institutional support, with hedge funds and other institutional investors owning 46.45% of the stock. Recent filings show that major entities such as WINTON GROUP Ltd and NewEdge Advisors LLC increased their positions in the second quarter, indicating that professional investors are confident in the long-term value of Zscaler, Inc. despite recent market volatility.
Wall Street analysts maintain a positive outlook on the stock, with a consensus rating of "Moderate Buy" and a consensus price target of $219.28. This target price suggests potential upside from the current stock price of $198.35, reflecting analyst belief that the market has not yet fully priced in the company's future earnings potential and strategic initiatives.
Zscaler, Inc. has demonstrated strong operational efficiency and liquidity, maintaining a current ratio of 1.70 and a quick ratio of 1.70. These metrics indicate that the company has sufficient short-term assets to cover its liabilities, providing a financial cushion that supports its ability to invest in research and development without excessive debt, as evidenced by a debt-to-equity ratio of 0.65.
The company's stock has shown strong momentum recently, trading above its 50-day moving average of $175.23 and its 200-day moving average of $153.83. This technical positioning suggests that the stock is in an uptrend, which can attract momentum-based investors and signal broader market confidence in the company's direction.

Zscaler
Bear Case

Investors should be bearish about investing in Zscaler, Inc. for these reasons:

Zscaler, Inc. experienced a significant leadership transition in late September 2026 when Chief Revenue Officer Mike Rich stepped down for personal reasons, with Ross Tackett named as his successor. This change in key executive management occurred just ahead of an investor day, which may introduce uncertainty regarding the company's sales strategy and execution, leading to a sharp drop in the stock price of approximately 9% on the day of the announcement.
The company is currently trading at a high valuation, with a P/E ratio of 9969.50, which is significantly above industry averages. This extreme multiple suggests that the stock price is heavily driven by future growth expectations rather than current earnings, making it vulnerable to any disappointment in future performance or a broader market correction in high-growth technology stocks.
There is notable insider selling activity, with CFO Kevin Rubin selling 519 shares on September 25th, 2026, and 5,957 shares on September 16th, 2026. While these sales were executed under pre-arranged Rule 10b5-1 trading plans, the consistent reduction in insider holdings can be interpreted by some investors as a lack of confidence in the stock's near-term upside or a desire to diversify personal wealth.
Zscaler, Inc. reported a negative net margin of 1.88% for the most recent quarter, indicating that the company is spending more than it is earning on a net basis. This is common for high-growth technology companies that are investing heavily in expansion, but it means that profitability is not yet a reliable indicator of financial health, and investors must rely on revenue growth to justify the valuation.
The stock has experienced significant volatility, with a 52-week range from $114.63 to $336.99, and a recent gap down of 8.64% on September 25th, 2026. This high level of price fluctuation can make it difficult for investors to time their entries and exits, and may lead to substantial short-term losses if the market sentiment shifts negatively.

ZS Forecast - Frequently Asked Questions

According to the research reports of 42 Wall Street equities research analysts, the average twelve-month stock price forecast for Zscaler is $219.78, with a high forecast of $390.00 and a low forecast of $150.00.

42 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Zscaler in the last year. There are currently 2 sell ratings, 6 hold ratings and 34 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" ZS shares.

According to analysts, Zscaler's stock has a predicted upside of 10.56% based on their 12-month stock forecasts.

Over the previous 90 days, Zscaler's stock had 2 upgrades and 2 downgrades by analysts.

Zscaler has been rated by research analysts at Barclays, BMO Capital Markets, BTIG Research, Canaccord Genuity Group, Cantor Fitzgerald, Citigroup, Deutsche Bank Aktiengesellschaft, Guggenheim, Jefferies Financial Group, JPMorgan Chase & Co., KeyCorp, Mizuho, Morgan Stanley, Needham & Company LLC, Piper Sandler, Robert W. Baird, Rosenblatt Securities, Roth Capital, Royal Bank Of Canada, Sanford C. Bernstein, Scotiabank, Stephens, Stifel Nicolaus, TD Cowen, Wedbush, Weiss Ratings, Wells Fargo & Company, and Zacks Research in the past 90 days.

Analysts like Zscaler more than other "technology" companies. The consensus rating for Zscaler is Moderate Buy while the average consensus rating for "technology" companies is Hold. Learn more on how ZS compares to other companies.

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MarketBeat monitors more than a dozen sources for Zscaler analyst ratings, with the most recent rating issued on 9/29/2026.

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Zscaler (ZS) Stock Forecast & Price Target