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 , Scotiabank , Stephens , Stifel Nicolaus , TD Cowen , Wedbush , Weiss Ratings , Wells Fargo & Company , and Zacks Research in the past 90 days.

$164.54 +1.06 (+0.65%)

Closing price 04:00 PM Eastern

Extended Trading

$164.74 +0.20 (+0.12%)

As of 07:59 PM 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

$216.53
31.59% Upside

According to the 42 analysts' twelve-month price targets for Zscaler, the average price target is $216.53. 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 31.59% from the current price of $164.54.

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 9/11/25 to 9/11/26	1 Month Ago 8/12/25 to 8/12/26	3 Months Ago 6/13/25 to 6/13/26	1 Year Ago 9/11/24 to 9/11/25
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)	7 Hold rating(s)
Sell	2 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$216.53	$214.21	$214.33	$307.00
Forecasted Upside	31.59% Upside	20.80% Upside	65.48% Upside	7.10% Upside
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	32.15% Upside	428.77% Upside	16.23% 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

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Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/11/2026	Wedbush 5 of 5 stars	Steven Wahrhaftig Not Rated	Initiated Coverage	Outperform	$215.00	+31.51%
9/8/2026	Citigroup 4 of 5 stars	Fatima Boolani 2 of 5 stars	Boost Target	Buy	$175.00 ➝ $205.00	+20.73%
9/5/2026	Roth Capital 3 of 5 stars		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
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	Royal Bank Of Canada Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Matthew Hedberg Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$200.00 ➝ $210.00	+18.11%
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	Barclays Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Saket Kalia Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$192.00 ➝ $200.00	+12.49%
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	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	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	$214.00	+20.36%
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%
8/27/2026	Weiss Ratings Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Sell (E+) ➝ Sell (D-)
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	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	$185.00 ➝ $210.00	+12.73%
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%
5/27/2026	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	Lower Target	Outperform	$228.00 ➝ $224.00	+21.34%
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 08:10 PM 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 Monday, September 7, 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 fiscal fourth-quarter results, delivering adjusted earnings per share of $1.19, which exceeded the consensus estimate of $1.09, while revenue of $898.2 million also surpassed expectations of $877.0 million, demonstrating the company's ability to outperform market forecasts.
The company achieved a record non-GAAP operating margin of 24% in the most recent quarter, indicating improved operational efficiency and profitability as it scales its cloud-native security platform.
Management highlighted growing demand for Security for AI and Agentic SecOps, positioning Zscaler, Inc. to capitalize on emerging enterprise needs as organizations integrate artificial intelligence into their infrastructure.
Multiple analysts, including Robert W. Baird and Stifel Nicolaus, have recently raised their price targets and maintained bullish ratings, with Baird lifting its target to $230.00, reflecting confidence in the company's long-term growth trajectory despite short-term headwinds.
With the current stock price at $169.80, Zscaler, Inc. trades at a significant discount to its 52-week high of $336.99, potentially offering a valuation entry point for investors who believe the recent growth deceleration is temporary.

Zscaler
Bear Case

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

Zscaler, Inc. guided for fiscal 2027 revenue growth of only 16.6% to 17.5%, a significant deceleration from the 25% year-over-year growth delivered in fiscal 2026, which has raised concerns about the sustainability of its high-growth profile.
Fourth-quarter free cash flow fell 65% year over year to $60.8 million, missing expectations of approximately $66.9 million, due to increased capital expenditures and internal-use software spending, signaling potential pressure on cash generation.
The company announced a restructuring affecting about 3% of its workforce to prioritize AI-focused initiatives, which may introduce execution risks and short-term disruption to operations as it pivots its strategic focus.
Zacks Research downgraded Zscaler, Inc. from a "hold" rating to a "strong sell" rating, citing the overly cautious fiscal 2027 outlook and competitive pressures that may limit near-term upside potential.
Insiders have sold a total of 16,772 shares worth approximately $2.14 million over the last 90 days, including sales by CEO Jagtar Chaudhry and CFO Kevin Rubin, which may signal reduced internal confidence in the current stock valuation.

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 $216.53, with a high forecast of $390.00 and a low forecast of $150.00.

42 Wall Street research 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 research analysts is that investors should "moderate buy" ZS shares.

According to analysts, Zscaler's stock has a predicted upside of 31.59% based on their 12-month stock forecasts.

Over the previous 90 days, Zscaler's stock had 1 upgrade and 1 downgrade 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, 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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Brokerages With Zscaler Recommendations

MarketBeat monitors more than a dozen sources for Zscaler analyst ratings, with the most recent rating issued on 9/11/2026.

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Zscaler (ZS) Stock Forecast & Price Target