Zscaler, Inc. (ZS)

Zscaler's stock price has been volatile, decreasing by 35.71% over the last 12 months and down 40.80% year-to-date as of late March 2026. Key events include earnings reports, where Zscaler exceeded revenue estimates but posted a wider quarterly loss. Market sentiment, including a sector-wide sell-off in cybersecurity and geopolitical optimism, has affected the stock. Analysts have trimmed price targets, with some downgrading the stock. Insider sales by company executives were reported in March 2026.

Specific demand seasonality for Zscaler's products and services is not explicitly detailed, but the company consistently reports strong demand for its Zero Trust architecture and platform. The CEO expects demand to remain robust, driven by the growing adoption of their platform. Historically, Zscaler's stock has shown some seasonality, with May typically being the strongest month for average returns and September being the weakest.

Zscaler, Inc. is a cloud security company providing a platform for enterprise network and data security, operating on a subscription-based SaaS model. It specializes in cloud-native cybersecurity with a focus on zero trust security, offering the Zscaler Zero Trust Exchange platform. Major products and services include cyberthreat protection through ZIA, ZPA, Zero Trust Firewall, Cloud Sandbox, and Zero Trust Browser. Data security is provided via Web and Email DLP, Endpoint DLP, BYOD Security, Multi-Mode CASB, Unified SaaS Security, DSPM, and Microsoft Copilot Data Protection. AI Security includes AI Asset Management, AI Access Security, and AI Red Teaming. Other offerings include ZDX, Zscaler Workload Communications, and Zscaler Posture Control.

Zscaler has a global presence, operating in over 185 countries with more than 150 data centers worldwide. Its net sales are geographically distributed, with the United States accounting for 50.9%, Europe/Middle East/Africa for 29.6%, Asia/Pacific for 15.9%, and other regions for 3.6%. The company is expanding its data center infrastructure in Saudi Arabia and plans a deployment in Canada.

Zscaler maintains a strong brand reputation within the cybersecurity industry. The company was recognized as a 2025 Customers' Choice in the Gartner® Peer Insights™ “Voice of the Customer” for Security Service Edge (SSE) and is considered a leader in the 2025 Gartner Magic Quadrant™ for Security Service Edge (SSE). Zscaler acquired Avalor and Airgap Networks in March 2024, and announced the acquisition of Red Canary in May 2025.

Zscaler's ownership is a mix of institutional, insider, and retail investors. Institutional investors hold a significant portion of the company's shares, with 936 institutional owners holding a total of 85,813,616 shares as of March 27, 2026. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., and Fmr Llc (Fidelity). Jay Chaudhry, the Founder, CEO, and Chairman, controls roughly 38% of voting power. Ajay Mangal is reported as the largest individual Zscaler shareholder, owning 16.70% of the company's shares.