- Prev close
- $207.13
- Day range
- $202.55 – $210.73
- Next earnings
- in 62 days
Zscaler’s 2026-09-17 close was lifted by a +3.1% session and a favorable analyst backdrop, with the move looking broadly benign rather than news-driven deterioration. The setup is supported by +25.4% revenue growth and a 32.3 forward PE, but the stock still trades with valuation sensitivity.
ZS
ZSCALER INC
As of Sep 18, 2026
66/100
Worth keeping an eye onHealth ScoreMove driver
Zscaler rose +3.1% in its 2026-09-17 session, finishing at 197.47 after trading between 188.661 and 198.93, while the S&P 500 was -0.1% and the Nasdaq 100 was +0.6%. That makes the move a stock-specific rally rather than a market-wide one. The clearest support in the facts is the analyst backdrop: Macquarie raised its target from $172 to $200 and Piper Sandler raised its target from $160 to $175, which fits a name that was already being re-rated around AI/security demand and earnings strength.
Volatility read
The +3.1% move looks like normal-to-moderate volatility for a high-expectation software name, not a fundamental break. Revenue is still growing +25.4% YoY on a TTM basis and +24.9% in the latest quarter, with gross margin at +76.8%; that is intact operating quality. But operating margin is -4.0% and net margin is -1.9%, while the forward PE is 32.3 — a valuation that keeps swings meaningful because growth is already priced in. The PEG is -113.91, which is not a meaningful gauge here because earnings growth is negative; the more relevant read is that the market is still paying a premium for top-line growth while profitability remains below breakeven. Beta is 0.87, so the stock is not especially high-beta, but its rich multiple still amplifies reactions to sentiment and guidance.
Earnings setup
The next earnings date is not available this period, so I cannot anchor the preview to a confirmed report date. The facts do show the core consensus backdrop: revenue growth of +25.4% YoY (TTM), latest quarter growth of +24.9% YoY, gross margin of +76.8%, operating margin of -4.0%, and net margin of -1.9%, with the stock priced at a forward PE of 32.3. The key questions investors will be focused on are whether Zscaler can keep revenue growth near the mid-20s, whether operating losses continue to narrow from -4.0%, and whether security demand and AI-related spending can support another beat-and-raise style print after the recent analyst target increases from $172 to $200 and from $160 to $175.
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