Zscaler (ZS) – Analysts’ Weekly Ratings Updates

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

• 6/12/2026 – Zscaler had its “overweight” rating reaffirmed by Stephens. They now have a $200.00 price target on the stock.
• 6/11/2026 – Zscaler had its “outperform” rating reaffirmed by Wolfe Research. They now have a $150.00 price target on the stock.
• 6/11/2026 – Zscaler had its “buy” rating reaffirmed by Canaccord Genuity Group Inc.. They now have a $210.00 price target on the stock.
• 6/10/2026 – Zscaler had its “overweight” rating reaffirmed by Cantor Fitzgerald. They now have a $225.00 price target on the stock.
• 6/10/2026 – Zscaler had its “outperform” rating reaffirmed by Wedbush. They now have a $220.00 price target on the stock.
• 6/10/2026 – Zscaler had its “outperform” rating reaffirmed by Royal Bank Of Canada. They now have a $200.00 price target on the stock.
• 6/10/2026 – Zscaler had its “buy” rating reaffirmed by Guggenheim. They now have a $214.00 price target on the stock.
• 6/10/2026 – Zscaler had its “buy” rating reaffirmed by Rosenblatt Securities. They now have a $200.00 price target on the stock.
• 6/10/2026 – Zscaler had its “buy” rating reaffirmed by Needham & Company LLC. They now have a $180.00 price target on the stock.
• 6/9/2026 – Zscaler had its “sell (e+)” rating reaffirmed by Weiss Ratings.
• 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.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 3,146 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $397,748.78. Following the completion of the transaction, the insider directly owned 69,366 shares of the company’s stock, valued at $8,769,943.38. This trade represents a 4.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Rubin sold 1,686 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total transaction of $213,160.98. Following the transaction, the chief financial officer directly owned 44,901 shares of the company’s stock, valued at $5,676,833.43. This represents a 3.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 9,827 shares of company stock valued at $1,242,263 over the last quarter. 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.