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.

$211.56 +9.76 (+4.84%)

As of 11:01 AM Eastern

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

Consensus Rating

Moderate Buy

Based on 42 Analyst Ratings

Sell
1

Hold
7

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, 1 has given a sell rating, 7 have given a hold rating, and 34 have given a buy rating for ZS.

Consensus Price Target

$220.78
4.35% Upside

According to the 42 analysts' twelve-month price targets for Zscaler, the average price target is $220.78. 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 4.35% from the current price of $211.56.

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 10/6/25 to 10/6/26	1 Month Ago 9/6/25 to 9/6/26	3 Months Ago 7/8/25 to 7/8/26	1 Year Ago 10/6/24 to 10/6/25
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	7 Hold rating(s)	6 Hold rating(s)	6 Hold rating(s)	8 Hold rating(s)
Sell	1 Sell rating(s)	2 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$220.78	$215.90	$213.97	$307.43
Forecasted Upside	4.35% Upside	27.15% Upside	49.06% Upside	0.72% 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	9.40% Upside	530.52% Upside	20.68% Upside
News Sentiment Rating	Positive News See Recent ZS News	Neutral News	Neutral News

Recent Analyst Forecasts and Stock Ratings

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Rating

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Action

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Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
10/5/2026	Scotiabank 4 of 5 stars	Patrick Colville 3 of 5 stars	Boost Target	Outperform	$200.00 ➝ $240.00	+18.00%
10/2/2026	Zacks Research 4 of 5 stars		Upgrade	Strong Sell ➝ Hold
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 Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Steven Wahrhaftig Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Outperform	$215.00	+11.37%
9/25/2026	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	$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%
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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	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
9/2/2026	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 Tuesday at 11:01 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 Saturday, October 3, 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 earnings per share of $1.19, which exceeded the consensus estimate of $1.09 by $0.10. This beat, combined with revenue of $898.19 million that surpassed analyst expectations of $876.96 million, demonstrates the company's ability to outperform market forecasts and drive shareholder value through robust operational execution.
The company is experiencing significant year-over-year growth, with quarterly revenue increasing by 24.9% compared to the same period last year. This consistent growth trajectory, supported by a positive return on equity of 1.23%, indicates that Zscaler, Inc. is effectively scaling its cloud-native cybersecurity platform and capturing a larger share of the market as organizations prioritize zero-trust security models.
Analyst sentiment remains positive, with a consensus rating of "Moderate Buy" and a consensus price target of $219.28, which suggests potential upside from the current stock price of $196.60. Recent upgrades from major firms, including Stifel Nicolaus raising its target to $200.00 and Robert W. Baird increasing its objective to $230.00, reflect confidence in the company's long-term growth prospects and execution capabilities.
Zscaler, Inc. is at the forefront of addressing emerging cybersecurity threats, as highlighted by its ThreatLabz 2026 Ransomware Report released in October 2026. The report details how the company is adapting to AI-driven ransomware operations and executive-focused data theft, positioning Zscaler, Inc. as a critical solution provider for enterprises facing increasingly sophisticated and automated cyber attacks.
The stock is currently trading at $196.60, which is below the 52-week high of $336.99 but above the 52-week low of $114.63, offering a potential entry point for investors who believe in the company's recovery and growth. With a beta of 0.94, the stock exhibits slightly less volatility than the overall market, which may appeal to investors seeking exposure to the cybersecurity sector with a margin of safety relative to its historical range.

Zscaler
Bear Case

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

Zscaler, Inc. has experienced a significant decline in its stock price, falling 35.6% over the past year. This substantial drop, which has brought the stock down from its 52-week high of $336.99 to the current price of $196.60, raises concerns about the market's reassessment of the company's valuation and its ability to sustain its previous growth rates in a competitive cybersecurity landscape.
The company is facing legal scrutiny, as Pomerantz LLP announced on October 1, 2026, that it is investigating claims on behalf of investors of Zscaler, Inc. Such legal investigations can lead to increased costs, management distraction, and potential financial liabilities, which may negatively impact the company's operational focus and financial performance in the near term.
Insider selling activity has been notable, with CFO Kevin Rubin selling 519 shares on September 25, 2026, and 5,957 shares on September 16, 2026, under a pre-arranged Rule 10b5-1 trading plan. While these sales are part of a planned strategy, the consistent reduction in insider holdings, including sales by CEO Jagtar Singh Chaudhry and other executives, may signal a lack of confidence in the stock's near-term appreciation or a desire to diversify personal portfolios.
Zscaler, Inc. has 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 negative margin, despite revenue growth, suggests that the company is still in a phase of heavy investment and expense management, which may limit its ability to generate substantial profits and return value to shareholders in the immediate future.
The company's P/E ratio is reported as 9830.00, which is exceptionally high and may indicate that the stock is overvalued relative to its current earnings. Such a high valuation leaves little room for error in future earnings growth and makes the stock vulnerable to significant price corrections if the company fails to meet or exceed the high expectations set by analysts and the market.

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 $220.78, 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 twelve months. There is currently 1 sell rating, 7 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 4.35% based on their 12-month stock forecasts.

Over the previous 90 days, Zscaler's stock had 3 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 10/5/2026.

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Zscaler (ZS) Stock Forecast & Price Target