Why Zscaler (ZS) Stock Is Down Today

Zscaler (ZS) is down 3.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver appears to be cautious trading ahead of Zscaler’s fiscal fourth-quarter report, with investors reacting to mixed recent channel-check commentary rather than a fresh company-specific negative announcement. This could also be because cybersecurity and cloud software names are broadly weaker today, which can amplify selling in stocks that have already been under pressure over growth and guidance expectations.

Details:

Zscaler is scheduled to report fiscal fourth-quarter 2026 results on September 3, giving traders a near-term catalyst to position around.

Recent analyst commentary described fourth-quarter partner checks as solid but somewhat weaker than the prior quarter, suggesting demand was acceptable but not strong enough to remove growth concerns.

The company has not posted an obvious negative press release this week; its latest announced update was an expanded partnership aimed at SMB and mid-market customers.

Peer cybersecurity and cloud software stocks were also trading lower today, pointing to sector sentiment as a possible additional headwind for Zscaler shares.

Sources:

Zscaler Investor Relations, Investing.com, Yahoo Finance

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ZS Insider Trading Activity

$ZS insiders have traded $ZS stock on the open market 21 times in the past 6 months. Of those trades, 0 have been purchases and 21 have been sales.

Here’s a breakdown of recent trading of $ZS stock by insiders over the last 6 months:

ADAM GELLER (Chief Product Officer) has made 0 purchases and 4 sales selling 8,336 shares for an estimated $1,144,670.
MICHAEL J. RICH (CRO and President of WW Sales) has made 0 purchases and 2 sales selling 7,331 shares for an estimated $1,021,779.
ROBERT SCHLOSSMAN (Chief Legal Officer) has made 0 purchases and 3 sales selling 5,531 shares for an estimated $770,417.
JAGTAR SINGH CHAUDHRY (CEO & Chairman) has made 0 purchases and 2 sales selling 4,819 shares for an estimated $667,811.
KEVIN RUBIN (Chief Financial Officer) has made 0 purchases and 7 sales selling 3,871 shares for an estimated $550,552.
RAJ JUDGE (EVP, Corp. Strategy & Ventures) sold 2,488 shares for an estimated $389,603
JAMES A BEER has made 0 purchases and 2 sales selling 354 shares for an estimated $49,388.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$ZS Hedge Fund Activity

We have seen 408 institutional investors add shares of $ZS stock to their portfolio, and 551 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC removed 1,839,487 shares (-84.0%) from their portfolio in Q2 2026, for an estimated $259,643,590
TIGER GLOBAL MANAGEMENT LLC removed 1,579,766 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $222,983,970
VICTORY CAPITAL MANAGEMENT INC added 1,536,364 shares (+1108.1%) to their portfolio in Q2 2026, for an estimated $216,857,778
AMERICAN CENTURY COMPANIES INC removed 1,517,931 shares (-63.7%) from their portfolio in Q2 2026, for an estimated $214,255,960
JERICHO CAPITAL ASSET MANAGEMENT L.P. added 1,362,862 shares (+inf%) to their portfolio in Q2 2026, for an estimated $192,367,971
BLACKROCK, INC. added 1,322,067 shares (+15.4%) to their portfolio in Q2 2026, for an estimated $186,609,757
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 1,257,901 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $177,552,726

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ZS Analyst Ratings

Wall Street analysts have issued reports on $ZS in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Macquarie issued a "Outperform" rating on 02/27/2026

To track analyst ratings and price targets for $ZS, check out Quiver Quantitative's $ZS forecast page.

$ZS Price Targets

Multiple analysts have issued price targets for $ZS recently. We have seen 33 analysts offer price targets for $ZS in the last 6 months, with a median target of $200.0.

Here are some recent targets:

Jackson Ader from Keybanc set a target price of $176.0 on 06/25/2026
Todd Weller from Stephens & Co. set a target price of $200.0 on 06/12/2026
Kingsley Crane from Canaccord Genuity set a target price of $210.0 on 06/11/2026
Mike Cikos from Needham set a target price of $180.0 on 06/10/2026
Dan Ives from Wedbush set a target price of $220.0 on 06/10/2026
John Difucci from Guggenheim set a target price of $214.0 on 06/10/2026
Jonathan Ruykhaver from Cantor Fitzgerald set a target price of $225.0 on 06/10/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.