Zscaler, Inc. (ZS) Stock Forecast Nov. 9, 2026
Analysis updated on Nov. 9, 2026 (UTC) · Alpha · vs marketSwitch to Total · Nasdaq
Zscaler, Inc. (ZS) stock forecast summary
Our AI scores Zscaler, Inc. every trading day against every stock it covers. Create a free account and follow it to see its rating and price target.
Zscaler, Inc. is a large-cap company with a market capitalization of $32.23B. It ranks number 2 by market capitalization among the 29 Services-Computer Programming Services issuers in our coverage with a current forecast. Its P/B Ratio of 12.40x is the highest of the 15 peers that report one.
For ZS, the Spearman rank correlation between our 90-day forecasts and the returns that followed is 45.0%, measured on 358 forecast dates between 2022-08-22 and 2026-08-11 on this stock's own recent history. A rank correlation runs from -100% to +100%: it measures whether higher forecasts were followed by higher returns, and a value near zero or below means the model has shown little skill on this stock. On the 30-day forecasts the same correlation is 20.0%, measured on 401 forecast dates between 2022-08-22 and 2026-10-09. Across our coverage, the out-of-sample test on 4629 stocks from 2025-01-06 to 2026-08-04 produced a positive net return in 92.9% of rebalance periods (factor-neutral book, net of estimated costs). Full backtest report
Expected return relative to the market over the horizon: a positive alpha means the model expects the stock to beat the market, whatever the market does. Ratings: strong buy ≥ +3.1%, buy ≥ +1.6%, sell < -0.3%, strong sell < -1.7% (top 15%, next 20%, middle 30%, next 20%, bottom 15% of the 2026-11-09 signals)
A free account shows the exact forecast, rating and rank of 3 tickers you follow, ZS included.
ZS price chart and AI forecast
How ZS ranks among 4004 stocks
90D Alpha forecasts of every company scored, cut into five relative ratings at the 15th, 35th, 65th and 85th percentiles (dashed lines).
Zscaler, Inc. (ZS) fundamentals
Trailing twelve months. The industry median and the rank (1 = highest) are taken over the Services-Computer Programming Services peers listed below that report each metric.
Valuation & Market
| Metric | ZS | Rank |
|---|---|---|
| Market Cap | $32.23B | 2/29 |
| P/B Ratio | 12.40x | 1/15 |
| EPS | $-0.39 | – |
| Book Value/Share | $15.93 | – |
| Revenue/Share | $20.56 | – |
| FCF/Share | $5.23 | – |
Profitability & Margins
| Metric | ZS | Rank |
|---|---|---|
| ROE | -2.4% | 11/14 |
| ROA | -0.8% | 12/19 |
| ROIC | -2.7% | 12/17 |
| Gross Margin | 76.8% | 3/20 |
| Operating Margin | -4.0% | 17/25 |
| Net Margin | -1.9% | 15/20 |
| EBT Margin | -0.5% | 15/24 |
| Tax Rate | -268.6% | – |
The effective tax rate is outside the normal band, which points to a large non-recurring tax item in the trailing twelve months; headline net income, net margin and P/E are affected by it.
Financial Health
| Metric | ZS | Rank |
|---|---|---|
| Current Ratio | 1.70x | 14/23 |
| D/E Ratio | 2.03x | 2/17 |
| Financial Leverage | 3.03x | 2/19 |
| Interest Coverage | 12.5x | 8/20 |
| Working Capital | $2.07B | 2/22 |
Cash Flow
| Metric | ZS | Rank |
|---|---|---|
| Operating Cash Flow | $1.13B | 4/27 |
| Free Cash Flow | $852M | 4/11 |
| Capital Spending | -$277M | 9/11 |
| OCF Growth YoY | 16.2% | 3/11 |
| FCF Growth YoY | 5.5% | 1/7 |
| FCF/Sales | 25.4% | 2/12 |
| CapEx/Sales | 8.3% | 4/12 |
Operational Efficiency
| Metric | ZS | Rank |
|---|---|---|
| Asset Turnover | 0.43x | 11/16 |
| Receivables Turnover | 2.9x | 11/12 |
| Fixed Assets Turnover | 4.5x | 13/15 |
| Days Sales Outstanding | 125 days | 2/12 |
| Payables Period | 23 days | 9/14 |
Income Statement
| Metric | ZS | Rank |
|---|---|---|
| Total Revenue | $3.35B | 5/17 |
| Operating Income | -$133M | 26/26 |
| Net Income | -$63M | 21/22 |
| R&D Expense | $903M | 1/17 |
| SG&A Expense | $3.45B | 1/19 |
| Cost of Goods Sold | $778M | 7/22 |
Dividend & Shareholder Information
| Metric | ZS | Rank |
|---|---|---|
| Shares Outstanding | 163M | – |
Balance Sheet Highlights (USD millions)
| Total Current Assets | $5.03B | 64.0% of assets |
| Cash & Short-term Investments | $928M | 11.8% of assets |
| Accounts Receivable | $1.15B | 14.6% of assets |
| Total Liabilities | $5.27B | 67.0% of assets |
| Short-term Debt | $2.91B | 37.0% of assets |
ZS quarterly financials and insider trading
Zscaler, Inc. (ZS) industry peers
Companies classified under the same SEC industry code as Zscaler, Inc. (Services-Computer Programming Services): 31 common-stock issuers with a forecast this week, one row per issuer, largest first. This is a classification match, not a curated list of competitors.
Reveal all forecasts · See exact % predictions for all competitors
Sign up free| Company | 90-Day AI Forecast (Alpha) | Market Cap |
|---|---|---|
| ZS Zscaler, Inc. | $32.23B | |
| INFY Infosys Ltd | $50.69B | |
| CTSH Cognizant Technology Solutions Corp | $28.93B | |
| VRSN Verisign Inc/Ca | $27.69B | |
| WIT Wipro Ltd | $22.65B | |
| EPAM Epam Systems, Inc. | $8.22B | |
| DOCS Doximity, Inc. | $5.85B | |
| DOX Amdocs Ltd | $4.56B | |
| RGTI Rigetti Computing, Inc. | $3.92B | |
| HQ Horizon Quantum Holdings Ltd. | $617M | |
| PERI Perion Network Ltd. | $444M | |
| CINT Ci&T Inc | $400M | |
| SVRE Saverone 2014 Ltd. | $389M | |
| IA Innovative Solutions & Support Inc | $348M | |
| MFI Mf International Ltd | $266M | |
| GDEV Gdev Inc. | $180M | |
| DAVA Endava Plc | $93M | |
| XTIA Xti Aerospace, Inc. | $34M | |
| MLGO Microalgo Inc. | $25M | |
| MNDO Mind Cti Ltd | $18M | |
| BTLN Brightline Interactive, Inc./Nv | $9M | |
| NIXX Nixxy, Inc. | $6M | |
| CYN Cyngn Inc. | $4M | |
| AGMH Agm Group Holdings, Inc. | $2M | |
| VISM Visium Technologies, Inc. | $1M | |
| BMTM Bright Mountain Media, Inc. | $840K | |
| CHGA Change Agents Corporation. | $840K | |
| SBIG Sbig Holdings, Inc. | $440K | |
| JFIL Jubilant Flame International, Ltd | $200K | |
| LOTT Techlott Inc. | N/A | |
| RDAR Telvantis, Inc. | N/A |
Where ZS sits on the market map
Zscaler, Inc. (ZS) stock news
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Zscaler, Inc. (ZS) stock forecast FAQ
What is the Zscaler, Inc. (ZS) stock forecast?
Our AI scores Zscaler, Inc. every trading day against every stock it covers. Create a free account and follow it to see its rating and price target.
How accurate are Zscaler, Inc. stock predictions?
For ZS, the Spearman rank correlation between our 90-day forecasts and the returns that followed is 45.0%, measured on 358 forecast dates between 2022-08-22 and 2026-08-11 on this stock's own recent history. A rank correlation runs from -100% to +100%: it measures whether higher forecasts were followed by higher returns, and a value near zero or below means the model has shown little skill on this stock. On the 30-day forecasts the same correlation is 20.0%, measured on 401 forecast dates between 2022-08-22 and 2026-10-09. Across our coverage, the out-of-sample test on 4629 stocks from 2025-01-06 to 2026-08-04 produced a positive net return in 92.9% of rebalance periods (factor-neutral book, net of estimated costs). Full backtest report
How often are Zscaler, Inc. forecasts updated?
Zscaler, Inc. forecasts are refreshed on trading days as the daily model run completes. The forecast on this page was produced on Nov. 9, 2026.
Which companies are Zscaler, Inc.'s industry peers?
31 issuers in our coverage, ZS included, share the SEC industry code Services-Computer Programming Services. The largest are: Infosys Ltd (INFY), Cognizant Technology Solutions Corp (CTSH), Verisign Inc/Ca (VRSN), Wipro Ltd (WIT), Epam Systems, Inc. (EPAM), Doximity, Inc. (DOCS).
This analysis is generated automatically using our proprietary AI systems and should not be considered personalized investment advice. Past performance does not guarantee future results. Always conduct your own research and consider consulting a financial advisor before making investment decisions.