ZSCALER, INC.
At today's price, ZSCALER, INC. (ZS) is priced for today's economics sustained for ~8.1 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
Zscaler is priced on its sales, at roughly 5.7 times revenue, because it is not yet earning a normal operating profit on a GAAP basis. At about $125 (as of June 27, 2026) the price implies the business eventually reaches an operating margin near 31 percent and grows at its self-funding ceiling for close to six years, a bet the model flags as elevated rather than merely reasonable. The business is executing against that bet. Fiscal third-quarter 2026 revenue grew 25 percent to $850.5 million, an
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721 institutional managers reported holding ZS in 13F filings for the quarter ended 2026-03-31. Together they hold about 54% of the company; the top 10 hold 26%. 80 opened new positions that quarter. Held by Vanguard Group, BlackRock, UBS, among others. On the short side, 11.9M shares were sold short as of the 2026-06-15 count, about 7% of shares outstanding (2.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ZS's share count grew 17.9% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at ZS over the trailing three years. Absence is a fact about the company, not a signal. 15 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ZS's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-09-15 | -0.0% | +20.1% |
| 2023-12-07 | +0.4% | +24.7% |
| 2024-03-07 | -7.6% | -14.6% |
| 2024-06-08 | +3.4% | -3.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ZS's latest 8-K filings: 2026-05-26 (items 2.02, 9.01); 2026-04-16 (items 5.02); 2026-02-26 (items 2.02, 9.01); 2026-01-15 (items 5.07); 2025-11-25 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: July 3, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.