Zscaler (ZS) – Investment Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Zscaler (NASDAQ: ZS) in the last few weeks:

• 2/19/2026 – Zscaler was given a new $220.00 price target on by analysts at Barclays PLC.
• 2/17/2026 – Zscaler had its price target lowered by analysts at Mizuho from $310.00 to $265.00. They now have an “outperform” rating on the stock.
• 2/17/2026 – Zscaler had its price target lowered by analysts at KeyCorp from $300.00 to $250.00. They now have an “overweight” rating on the stock.
• 2/17/2026 – Zscaler had its price target lowered by analysts at Truist Financial Corporation from $350.00 to $250.00. They now have a “buy” rating on the stock.
• 2/13/2026 – Zscaler was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $228.00 price target on the stock.
• 2/11/2026 – Zscaler had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $250.00 price target on the stock.
• 2/9/2026 – Zscaler had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald.
• 1/21/2026 – Zscaler had its “sell (d-)” rating reaffirmed by analysts at Weiss Ratings.
• 1/13/2026 – Zscaler had its price target lowered by analysts at Citigroup Inc. from $350.00 to $305.00. They now have a “buy” rating on the stock.
• 1/12/2026 – Zscaler had its price target lowered by analysts at KeyCorp from $350.00 to $300.00. They now have an “overweight” rating on the stock.
• 1/5/2026 – Zscaler had its price target lowered by analysts at Piper Sandler from $280.00 to $260.00. They now have a “neutral” rating on the stock.
• 1/5/2026 – Zscaler had its price target lowered by analysts at Royal Bank Of Canada from $366.00 to $290.00. They now have an “outperform” rating on the stock.

Insider Buying and Selling

In other Zscaler news, CFO Kevin Rubin sold 3,303 shares of Zscaler stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $230.82, for a total value of $762,398.46. Following the transaction, the chief financial officer directly owned 48,161 shares in the company, valued at approximately $11,116,522.02. This trade represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Geller sold 2,060 shares of Zscaler stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total transaction of $475,489.20. Following the completion of the transaction, the insider owned 52,148 shares in the company, valued at approximately $12,036,801.36. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,350 shares of company stock valued at $4,471,509 over the last ninety days. Company insiders own 17.20% of the company’s stock.

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.