ZS Zscaler, Inc.
Price Chart
Executive Summary
BTIG double-downgraded Zscaler from Buy to Neutral, a stark contrarian move against a heavily bullish consensus where 77.6% of 58 analysts rate the stock Buy or Strong Buy. The firm has a 57% accuracy on 7 ZS calls with an average return of 7.1%, slightly above average among covering firms. The mean price target of $193.79 implies ~48% upside from the current $130.78, yet BTIG set no new target, signaling caution. Short interest is elevated at 58.1% of float, converging with the downgrade, while insider sales in March totaled ~$1.4M across five executives. Despite net positive EPS revisions (22 up vs 10 down for next quarter), the double downgrade adds to negative momentum. Bottom line: the downgrade, supported by short interest and insider selling, tilts risk to the downside in the near term.
Impact Score
Consensus & Targets
Of 58 analysts covering ZS, 15 Strong Buy, 30 Buy, 13 Hold, 0 Sell, 0 Strong Sell — 77.6% Buy-equivalent and 22.4% Hold. Consensus is overwhelmingly bullish.
Mean PT $193.79, median $190, high $250, low $145. Current price $130.78 implies 48.2% upside to the mean. BTIG's lack of a PT places it below the low end of consensus range.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-06-01 | Guggenheim | upgrade | Buy | — |
| 2026-05-28 | Wells Fargo | maintain | Overweight | $180.00 |
| 2026-05-27 | UBS | maintain | Buy | $225.00 |
| 2026-05-27 | B. Riley Securities | maintain | Buy | $215.00 |
| 2026-05-27 | Citigroup | maintain | Buy | $175.00 |
| 2026-05-27 | Truist Securities | maintain | Buy | $200.00 |
| 2026-05-27 | BMO Capital | maintain | Outperform | $178.00 |
| 2026-05-27 | Stephens & Co. | maintain | Overweight | $200.00 |
| 2026-05-27 | Morgan Stanley | maintain | Equal-Weight | $145.00 |
| 2026-05-27 | Barclays | maintain | Overweight | $170.00 |
30-day analyst activity: 2 upgrades, 1 downgrade (BTIG). EPS revisions for next quarter show 22 up, 10 down; for next fiscal year, 25 up vs 19 down. Net upward revision trend persists.
Firm Track Record — BTIG
BTIG accuracy: 53% on 948 calls | avg return: 3.7%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Stephens & Co. | 100% | 3/3 | 19.8% | top tier |
| Truist Securities | 100% | 2/2 | 1.9% | top tier |
| Loop Capital | 80% | 4/5 | 10.8% | top tier |
| Barclays | 73% | 8/11 | 4.2% | top tier |
| Baird | 71% | 5/7 | 8.8% | top tier |
| Stifel | 71% | 5/7 | 1% | top tier |
| Bernstein | 67% | 2/3 | -18.5% | top tier |
| Mizuho | 64% | 7/11 | -2% | top tier |
| BMO Capital | 63% | 5/8 | 12.1% | top tier |
| Wedbush | 60% | 3/5 | 5% | above average |
BTIG has 57% accuracy on 7 ZS calls with an average return of 7.1%, ranking above average. Best firm: Stephens & Co. (100% on 3 calls, avg return 19.8%). Worst: Bernstein (67% on 3 calls, avg return -18.5%).
Earnings Estimates
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| +1q | $1.08 | $0.91 — $1.16 | $926.0M | ↑23 ↓0 |
| 0q | $1.09 | $1.08 — $1.16 | $877.6M | ↑39 ↓0 |
| +1y | $4.60 | $3.96 — $5.42 | $3.9B | ↑26 ↓0 |
| 0y | $4.13 | $4.10 — $4.33 | $3.3B | ↑43 ↓0 |
Cross-Platform Signals
Insider trades: five sells by top executives in March 2026 totaling ~$1.4M, aligning with the bearish downgrade. Institutional activity mixed: Morgan Stanley added 25.4%, Two Sigma trimmed 63.9%, UBS trimmed 49.8%. Short interest at 58.1% of float is a heavy bearish bet. No congressional trades. Short interest and insider sells converge with the downgrade.
Actionable Insight
The double downgrade from a decent-accuracy firm adds bearish conviction, reinforced by elevated short interest and insider selling. Traders should consider reducing positions or waiting for a clearer catalyst before re-entering.
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 9, 2026
today
|
Press Release
| $125.20 awaiting T+5 | awaiting T+5 | — | $129.25 (+3.23%) |
|
Jun 8, 2026
1d ago
|
ANALYST-DOWNGRADE
| $138.11 awaiting T+5 | awaiting T+5 | — | $129.25 (+6.42%) |
|
Jun 1, 2026
8d ago
|
ANALYST-UPGRADE
| $155.62 $130.78 | ▼ −15.96% | ▼ −13.21% | $129.25 (−16.95%) |
|
May 31, 2026
9d ago
|
ANALYST-UPGRADE
| $232.67 $229.12 | ▼ −1.53% | ▼ −2.86% | $129.25 (−44.45%) |
|
May 27, 2026
13d ago
|
ANALYST-DOWNGRADE
| $126.17 $134.28 | ▼ −6.43% | ▼ −5.96% | $129.25 (−2.44%) |
|
May 26, 2026
14d ago
|
8-K
| $126.17 $134.28 | ▲ +6.43% | ▲ +5.96% | $129.25 (+2.44%) |
|
May 22, 2026
18d ago
|
ANALYST-DOWNGRADE
| $142.00 $134.27 | ▲ +5.44% | ▲ +5.50% | $129.25 (+8.98%) |
|
May 21, 2026
19d ago
|
Press Release
| $170.38 $139.62 | ▼ −18.05% | ▼ −19.90% | $129.25 (−24.14%) |
|
May 19, 2026
21d ago
|
Press Release
| $174.65 $126.17 | ▼ −27.76% | ▼ −30.05% | $129.25 (−26.00%) |
|
May 18, 2026
22d ago
|
ANALYST-UPGRADE
| $174.21 $183.97 | ▲ +5.60% | ▲ +3.98% | $129.25 (−25.81%) |
US Market Status
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