Zscaler (ZS) – Investment Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Zscaler (NASDAQ: ZS) recently:

• 6/1/2026 – Zscaler was upgraded by Guggenheim from “neutral” to “buy”. They now have a $214.00 price target on the stock.
• 5/28/2026 – Zscaler had its price target lowered by Wells Fargo & Company from $210.00 to $180.00. They now have an “overweight” rating on the stock.
• 5/28/2026 – Zscaler was given a new $200.00 price target by Berenberg Bank.
• 5/27/2026 – Zscaler had its “outperform” rating reaffirmed by FBN Securities. They now have a $175.00 price target on the stock.
• 5/27/2026 – Zscaler had its price target lowered by UBS Group AG from $260.00 to $225.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Piper Sandler from $185.00 to $160.00. They now have a “neutral” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Piper Sandler from $185.00 to $160.00. They now have a “neutral” rating on the stock.
• 5/27/2026 – Zscaler was given a new $205.00 price target by Stephens.
• 5/27/2026 – Zscaler had its price target lowered by Stephens from $225.00 to $200.00. They now have an “overweight” rating on the stock.
• 5/27/2026 – Zscaler had its “neutral” rating reaffirmed by The Goldman Sachs Group, Inc.. They now have a $179.00 price target on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Barclays PLC from $180.00 to $170.00. They now have an “overweight” rating on the stock.
• 5/27/2026 – Zscaler was given a new $210.00 price target by Truist Financial Corporation.
• 5/27/2026 – Zscaler had its “market outperform” rating reaffirmed by Citigroup Inc..
• 5/27/2026 – Zscaler had its price target lowered by Stifel Nicolaus from $180.00 to $175.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Zscaler was given a new $155.00 price target by Evercore Inc. They now have an “in-line” rating on the stock.
• 5/27/2026 – Zscaler had its “buy” rating reaffirmed by TD Cowen.
• 5/27/2026 – Zscaler had its price target lowered by Truist Financial Corporation from $250.00 to $200.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Royal Bank Of Canada from $205.00 to $200.00. They now have an “outperform” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Mizuho from $210.00 to $185.00. They now have an “outperform” rating on the stock.
• 5/27/2026 – Zscaler was downgraded by Evercore Inc from “outperform” to “cautious”. They now have a $155.00 price target on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Morgan Stanley from $155.00 to $145.00. They now have an “equal weight” rating on the stock.
• 5/27/2026 – Zscaler was upgraded by Zacks Research from “strong sell” to “hold”.
• 5/27/2026 – Zscaler had its price target lowered by Citigroup Inc. from $205.00 to $175.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by JPMorgan Chase & Co. from $250.00 to $205.00. They now have an “overweight” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Cantor Fitzgerald from $300.00 to $225.00. They now have an “overweight” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Wedbush from $300.00 to $220.00. They now have an “outperform” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Deutsche Bank Aktiengesellschaft from $185.00 to $175.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by B. Riley Financial, Inc. from $225.00 to $215.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Zscaler had its “neutral” rating reaffirmed by Guggenheim.
• 5/27/2026 – Zscaler had its price target lowered by Scotiabank from $190.00 to $175.00. They now have a “sector outperform” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Canaccord Genuity Group Inc. from $275.00 to $210.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Rosenblatt Securities from $223.00 to $200.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by BMO Capital Markets from $210.00 to $178.00. They now have an “outperform” rating on the stock.
• 5/27/2026 – Zscaler had its “buy” rating reaffirmed by Needham & Company LLC. They now have a $180.00 price target on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Sanford C. Bernstein from $228.00 to $224.00. They now have an “outperform” rating on the stock.
• 5/27/2026 – Zscaler had its price target lowered by Robert W. Baird from $265.00 to $230.00. They now have an “outperform” rating on the stock.
• 5/21/2026 – Zscaler was given a new $155.00 price target by Morgan Stanley.
• 5/20/2026 – Zscaler had its “buy” rating reaffirmed by UBS Group AG.
• 5/20/2026 – Zscaler had its “overweight” rating reaffirmed by Cantor Fitzgerald.
• 5/18/2026 – Zscaler was upgraded by HC Wainwright from “buy” to “buy”.
• 5/18/2026 – Zscaler is now covered by Sanford C. Bernstein. They set an “outperform” rating on the stock.
• 5/18/2026 – Zscaler was downgraded by Morgan Stanley from “overweight” to “neutral”.
• 5/18/2026 – Zscaler was upgraded by Piper Sandler from “neutral” to “neutral”.
• 5/18/2026 – Zscaler was downgraded by Citigroup Inc. from “buy” to “neutral”.
• 5/18/2026 – Zscaler had its price target raised by KeyCorp from $160.00 to $190.00. They now have an “overweight” rating on the stock.
• 5/18/2026 – Zscaler was upgraded by B. Riley Financial, Inc. from “neutral” to “buy”. They now have a $225.00 price target on the stock, down from $275.00.
• 5/18/2026 – Zscaler had its price target lowered by Rosenblatt Securities from $250.00 to $223.00. They now have a “buy” rating on the stock.
• 5/1/2026 – Zscaler had its price target lowered by Citizens Jmp from $290.00 to $210.00. They now have a “market outperform” rating on the stock.
• 4/29/2026 – Zscaler was downgraded by Zacks Research from “hold” to “strong sell”.
• 4/22/2026 – Zscaler was downgraded by Morgan Stanley from “overweight” to “equal weight”. They now have a $155.00 price target on the stock, down from $200.00.
• 4/15/2026 – Zscaler had its price target lowered by KeyCorp from $220.00 to $160.00. They now have an “overweight” rating on the stock.
• 4/9/2026 – Zscaler had its “neutral” rating reaffirmed by BTIG Research.

Insider Buying and Selling at Zscaler

In related news, Director James A. Beer sold 177 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $153.53, for a total transaction of $27,174.81. Following the completion of the sale, the director directly owned 4,384 shares of the company’s stock, valued at $673,075.52. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Rubin sold 1,682 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $156.59, for a total transaction of $263,384.38. Following the sale, the chief financial officer directly owned 46,479 shares of the company’s stock, valued at approximately $7,278,146.61. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 12,130 shares of company stock valued at $1,892,487. Corporate insiders own 17.20% of the company’s stock.

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.