Zscaler, Inc. (ZS)

Over the past six months, Zscaler's stock has experienced volatility and a general decline. As of May 8, 2026, the share price was $152.13, representing a 34.75% decrease over the past 12 months. Key events impacting the stock include earnings reports, analyst sentiment, leadership changes, broader market trends, government authorization, and insider activity. Zscaler announced strong second-quarter fiscal year 2026 results on February 26, 2026, beating EPS and revenue estimates and raising its fiscal 2026 Annual Recurring Revenue (ARR) guidance to 24% growth. Analyst sentiment has been divided. The resignation of EVP of Corporate Strategy Raj Judge can create uncertainty. Zscaler's ZIA product received a Department of War Impact Level 5 (IL5) authorization. ZS insiders have traded the stock 18 times in the past six months, with zero purchases and 18 sales.

Zscaler's demand is driven by the need for cloud-native cybersecurity and zero-trust architectures. The company's growth is fueled by enterprise adoption, the shift to cloud-native defenses, expansion initiatives, customer upgrades, and government mandates. The company's subscription-based SaaS model provides predictable revenue streams. Zscaler's strong net retention rate indicates robust upsell within existing accounts, suggesting steady demand for its evolving product portfolio.

Zscaler, Inc., headquartered in San Jose, California, is a cloud security company operating in the Software - Infrastructure industry. It provides cloud-based security solutions with a focus on zero-trust strategies. Its core offering is the Zero Trust Exchange platform, which provides secure access to applications and data. Zscaler's major products and services are delivered via a subscription-based SaaS model and include Cyberthreat Protection, Data Security, Zero Trust Branch, Security Operations, and Managed Services. The company serves diverse industries, including finance, healthcare, insurance, manufacturing, telecommunications, and the public sector.

Zscaler's corporate headquarters is located in San Jose, California. The company has a global presence with over 150 data centers worldwide, processing over 400 billion transactions daily. In 2025, Zscaler's group consisted of 20 significant subsidiaries across 15 countries, with a concentration of material entities in Europe and North America, which together host 60% of its significant subsidiaries. Zscaler's global reach extends to users in 185 countries. The company has additional offices in various U.S. cities and internationally.

Zscaler has a moderate to strong brand reputation in the cybersecurity sector, particularly as a pioneer in zero-trust architecture and SASE solutions. The company is consistently recognized as a leader in SSE markets. Zscaler serves over 7,700 customers globally, including more than 450 Forbes Global 2000 companies and 40% of Fortune 500 companies. Events that could affect its reputation include leadership changes, market scrutiny, and acquisitions. Zscaler has continued its acquisition strategy, including Avalor in March 2024, Airgap Networks, and Red Canary in May 2025.

Zscaler, Inc. has significant institutional ownership, with institutions holding approximately 53% of the company's shares. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and Fmr Llc. Founder Jay Chaudhry remains the dominant individual owner, controlling roughly 38% of voting power. As of January 2, 2026, Ajay Mangal was noted as the largest shareholder with 18% of shares outstanding, and Jagtar Chaudhry (CEO) held 17%. The general public holds about 11% ownership.