B+
Bull case
25%
Probability
Target price
$220.00
Analysis reference price unavailable
Analysis 2026-09-09 · RankAlpha Sentiment Codex
ZS
ZscalerANasdaq / 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
Constructive
Lead driver
Sentiment
What changed
Sentiment remains the lead driver in the composite, 7D delta +33.6.
What can break
AI-security demand is promising but monetization and sustained organic ARR acceleration remain unproven.
Momentum
61
Value
47
Sentiment
81
Setup hits (3d)
0 · Net Neutral
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 2026-09-03 • Vendor: Data Vendor v1
Scores
As of 2026-09-11 • Model: HYBRID_IC_RP
AI Memo
As of 2026-09-09 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-09-11
Investment thesis
As of 2026-09-11
Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-11. Definitions
Supporting evidence
What
Grade A · Constructive
Confidence Medium · Net Neutral
Target $207.29
Why
Momentum61 · Δ7d -8.7
Value47 · Δ7d 0.0
Sentiment81 · Δ7d +33.6
So what
Strength-led posture (Net Neutral). Favor watchlist adds and disciplined entries.
Confirming evidence
- • Sentiment remains the lead driver in the composite, 7D delta +33.6.
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: Sentiment · See AI snapshot
Momentum
61
9% active weight
Current posture
7d trendImproving
Δ7d
-8.7
Δ21d
-24.8
Value
47
28% active weight
Current posture
7d trendFlat
Δ7d
0.0
Δ21d
-1.5
Sentiment
81
62% active weight
Current posture
7d trendImproving
Δ7d
+33.6
Δ21d
+33.9
Why this grade
Composite grade A. Momentum 61.4 / Value 47.1 / Sentiment 80.8
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 2026-09-03
Fundamentals (TTM)
As of 2026-09-03
Market Cap
$29.83B
Beta
1.02
Shares Out
161.71M
P/E (TTM) · Derived
-467.8
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 2026-09-11 • Updated nightlySource: Internal modelMethods & Data