Zscaler stock jumps as analyst target hikes and earnings optimism lift shares

Zscaler (ZS) is up 9.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The rally appears to be driven mainly by a fresh wave of bullish analyst price-target increases and growing optimism ahead of Zscaler’s fourth-quarter fiscal 2026 earnings report on September 3, 2026. Investors also seem to be leaning on the company’s recent growth profile, including strong recurring revenue, while recent partnership and product-positioning updates may be adding to the positive tone.

Details:

Recent analyst actions turned more constructive, with price-target increases from JPMorgan, Barclays, KeyBanc, and Mizuho over the past several sessions.

Zscaler has already scheduled its Q4 fiscal 2026 earnings release and investor call for September 3, 2026, which can pull buyers into the stock ahead of results.

The company’s investor materials highlight more than $3.5 billion in annual recurring revenue as of Q3 fiscal 2026, about 25% year-over-year revenue growth, and remaining performance obligations of roughly $6.5 billion.

Recent company updates also pointed to commercial momentum, including an expanded Carahsoft partnership and leadership recognition in SASE and SSE categories.

Sources:

Zscaler Investor Relations, Finance Yahoo, Investing.com, Benzinga

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 26 times in the past 6 months. Of those trades, 0 have been purchases and 26 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 12 sales selling 4,374 shares for an estimated $637,762.
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 410 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 Price Targets

Multiple analysts have issued price targets for $ZS recently. We have seen 30 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.