B+
Bull case
25%
Probability
Target price
$220.00
Analysis reference price unavailable
Analysis 2026-09-09 · RankAlpha Sentiment Codex
ZS
ZscalerFNasdaq / Software & Services
Last Price
Quote time unavailable
Current thesis
The bull case is supported by a Q4 beat, 25% ARR growth, accelerating organic net-new ARR excluding Red Canary, strong operating leverage, and management's view that AI-security demand is expanding the Zero Trust platform opportunity. [#EARNINGS-TRANSCRIPT-2026Q4]
Posture
Defensive
Lead driver
Value
What changed
9 setup hits (3d) with net bullish as of 2026-10-25.
What can break
AI-security demand is promising but monetization and sustained organic ARR acceleration remain unproven.
Momentum
91
Value
46
Sentiment
25
Setup hits (3d)
9 · Net Bullish
AI TargetsBase $195.00 · Bull $220.00 · Bear $140.00Analysis 2026-09-09; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-10-23 • Vendor: Data Vendor v1
Scores
As of 2026-10-26 • Model: HYBRID_IC_RP
AI Memo
As of 2026-09-09 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-10-26
Investment thesis
As of 2026-10-26
Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-10-26. Definitions
Supporting evidence
What
Grade F · Defensive
Confidence Medium · Net Bullish
Target $238.16
Why
Momentum91 · Δ7d -7.4
Value46 · Δ7d -0.5
Sentiment25 · Δ7d -19.4
So what
Weak posture (Net Bullish). Prioritize risk control and patience.
Confirming evidence
- • 9 setup hits (3d) with net bullish as of 2026-10-25.
- • Value remains the lead driver in the composite, 7D delta -0.5.
Contradictions & invalidation
- • AI-security demand is promising but monetization and sustained organic ARR acceleration remain unproven.
- • Competition across cloud, network, endpoint, identity, and security platforms remains intense.
- • The bear case centers on slower FY2027 growth of roughly 17%, weak near-term free-cash-flow conversion from elevated investment, restructuring execution, and the need to prove that AI-security bookings and pipeline translate into durable ARR.
Catalyst clock
2026-09-03
Q4 FY2026 beat and FY2027 outlook reset
Lead driver: Value · See fundamentals
Momentum
91
8% active weight
Current posture
7d trendFlat
Δ7d
-7.4
Δ21d
-2.6
Value
46
47% active weight
Current posture
7d trendFlat
Δ7d
-0.5
Δ21d
-0.7
Sentiment
25
45% active weight
Current posture
7d trendSoftening
Δ7d
-19.4
Δ21d
-31.6
Why this grade
Composite grade F. Momentum 91.3 / Value 45.9 / Sentiment 25.3
Scenario snapshot
Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-09-09. Scenario method
Most likely
B
Base case
50%
Probability
Target price
$195.00
Analysis reference price unavailable
Analysis 2026-09-09 · RankAlpha Sentiment Codex
B-
Bear case
25%
Probability
Target price
$140.00
Analysis reference price unavailable
Analysis 2026-09-09 · RankAlpha Sentiment Codex
Fundamentals (TTM)As of 2026-10-23
Fundamentals (TTM)
As of 2026-10-23
Market Cap
$41.6B
Beta
1.02
Shares Out
163.06M
P/E (TTM) · Derived
-647.1
P/S (TTM)
12.54
P/FCF (TTM)
41.89
Rev YoY
+25.4%
EPS YoY
+224.8%
Gross Margin
+76.3%
Op Margin
-4.5%
Net Debt
-$1.78B
Current Ratio
1.78
As of 2026-10-26 • Updated nightlySource: Internal modelMethods & Data