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 , Deutsche Bank Aktiengesellschaft , Guggenheim , Jefferies Financial Group , JPMorgan Chase & Co. , KeyCorp , Mizuho , Morgan Stanley , Needham & Company LLC , Piper Sandler , Robert W. Baird , Rosenblatt Securities , Royal Bank Of Canada , Scotiabank , Stephens , Stifel Nicolaus , TD Cowen , Wedbush , Weiss Ratings , Wells Fargo & Company , and Wolfe Research in the past 90 days.

$169.80 -8.00 (-4.50%)

As of 09/4/2026 04:00 PM Eastern

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

Consensus Rating

Moderate Buy

Based on 41 Analyst Ratings

Sell
1

Hold
6

Buy
34

Based on 41 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 41 analysts, 1 has given a sell rating, 6 have given a hold rating, and 34 have given a buy rating for ZS.

Consensus Price Target

$217.08
27.84% Upside

According to the 41 analysts' twelve-month price targets for Zscaler, the average price target is $217.08. 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 27.84% from the current price of $169.80.

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 9/5/25 to 9/5/26	1 Month Ago 8/6/25 to 8/6/26	3 Months Ago 6/7/25 to 6/7/26	1 Year Ago 9/5/24 to 9/5/25
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)	33 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	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$217.08	$214.21	$216.03	$307.00
Forecasted Upside	27.84% Upside	31.74% Upside	65.18% Upside	11.96% 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	2.80	2.23	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	27.84% Upside	410.15% Upside	14.05% 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
9/4/2026	Scotiabank 4 of 5 stars	Patrick Colville 2 of 5 stars	Reiterated Rating	Outperform
9/4/2026	Deutsche Bank Aktiengesellschaft 2 of 5 stars	Brad Zelnick Not Rated	Reiterated Rating	Buy
9/4/2026	Stephens 2 of 5 stars	Todd Weller 2 of 5 stars	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%
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%
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	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%
8/27/2026	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%
6/10/2026	Wedbush Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Daniel Ives Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Outperform	$220.00	+72.00%
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	Citigroup Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Market Outperform
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	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Strong Sell ➝ Hold
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%
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%
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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%
5/28/2025	Roth Capital Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Imtiaz Koujalgi Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Neutral
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 Saturday at 05:18 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 Thursday, September 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 fourth-quarter fiscal 2026 revenue of $898.2 million, which exceeded the consensus estimate of approximately $877 million and represented a 25% year-over-year increase, demonstrating strong demand for its zero-trust security platform and data security offerings.
The company delivered non-GAAP earnings of $1.19 per diluted share, beating the consensus estimate of $1.09, while also achieving a record 24% non-GAAP operating margin, indicating significant improvements in operational efficiency and profitability relative to its revenue growth.
Zscaler, Inc. provided first-quarter fiscal 2027 guidance with revenue of $935.0 million to $939.0 million and EPS of $1.150 to $1.160, both of which significantly exceeded the consensus estimates of $925.5 million and $0.860 respectively, signaling continued strong growth momentum for the upcoming period.
Annual recurring revenue increased by 25% to $3.77 billion, supported by strong large-deal activity and the integration of the Red Canary acquisition, which provides a stable and growing subscription-based revenue stream that reduces reliance on one-time sales.
The stock is currently trading at $177.80, which is below the average analyst price target of $213.10 and the consensus rating of Moderate Buy, suggesting potential upside for investors as the market digests the recent earnings beat and strong guidance.

Zscaler
Bear Case

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

Zscaler, Inc. reported a GAAP net loss of $3.4 million for the fourth quarter, and the company announced plans to eliminate approximately 3% of its workforce to reallocate resources toward AI and growth initiatives, which may signal ongoing challenges in achieving GAAP profitability and potential disruption from restructuring.
Quarterly free-cash-flow margin fell to 7% from 24% in the prior year period, largely due to significantly higher capital expenditures and internal-use software spending, which could pressure cash generation and limit the company's ability to fund growth or return capital to shareholders without external financing.
Insiders have been selling shares recently, with CFO Kevin Rubin selling 503 shares at an average price of $173.38 on August 25, 2026, and CEO Jay Chaudhry selling 2,878 shares at $126.43 on June 16, 2026, which may indicate a lack of confidence from company leadership or a desire to diversify personal holdings.
The company's price-to-earnings ratio is negative, reflecting its GAAP unprofitability, and its PEG ratio of 104.98 suggests that the stock may be overvalued relative to its expected earnings growth, making it vulnerable to valuation corrections if growth slows or profitability does not improve as anticipated.
Short interest has been increasing in recent months, with shares shorted rising to 6,229,864 as of August 14, 2026, from 5,370,000 in October 2025, indicating that a growing number of investors are betting against the stock's performance, which could create downward pressure on the share price.

ZS Forecast - Frequently Asked Questions

According to the research reports of 41 Wall Street equities research analysts, the average twelve-month stock price forecast for Zscaler is $217.08, with a high forecast of $390.00 and a low forecast of $150.00.

41 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Zscaler in the last twelve months. There is currently 1 sell rating, 6 hold ratings and 34 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" ZS shares.

According to analysts, Zscaler's stock has a predicted upside of 27.84% based on their 12-month stock forecasts.

Over the previous 90 days, Zscaler's stock had 1 upgrade by analysts.

Zscaler has been rated by research analysts at Barclays, BMO Capital Markets, BTIG Research, Canaccord Genuity Group, Cantor Fitzgerald, Deutsche Bank Aktiengesellschaft, Guggenheim, Jefferies Financial Group, JPMorgan Chase & Co., KeyCorp, Mizuho, Morgan Stanley, Needham & Company LLC, Piper Sandler, Robert W. Baird, Rosenblatt Securities, Royal Bank Of Canada, Scotiabank, Stephens, Stifel Nicolaus, TD Cowen, Wedbush, Weiss Ratings, Wells Fargo & Company, and Wolfe 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 9/4/2026.

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Zscaler (ZS) Stock Forecast & Price Target