Q2 Earnings Estimate for Zscaler Issued By KeyCorp

Zscaler, Inc. (NASDAQ:ZS) – Equities research analysts at KeyCorp issued their Q2 2026 earnings per share estimates for Zscaler in a research note issued on Monday, January 12th. KeyCorp analyst E. Heath forecasts that the company will post earnings per share of ($0.05) for the quarter. KeyCorp currently has a “Overweight” rating and a $300.00 target price on the stock. The consensus estimate for Zscaler’s current full-year earnings is ($0.10) per share. KeyCorp also issued estimates for Zscaler’s Q3 2026 earnings at $0.01 EPS, Q4 2026 earnings at $0.03 EPS, FY2026 earnings at $0.01 EPS and FY2027 earnings at $0.22 EPS.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, November 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.11. The company had revenue of $788.11 million during the quarter, compared to analysts’ expectations of $773.86 million. Zscaler had a negative return on equity of 0.12% and a negative net margin of 1.45%.The firm’s quarterly revenue was up 25.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. Zscaler has set its FY 2026 guidance at 3.780-3.820 EPS and its Q2 2026 guidance at 0.890-0.900 EPS.

A number of other equities research analysts have also recently weighed in on the stock. Capital One Financial set a $320.00 price target on shares of Zscaler and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Robert W. Baird lifted their price objective on Zscaler from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Wedbush upped their price objective on Zscaler from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Wall Street Zen lowered Zscaler from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Stifel Nicolaus cut their target price on shares of Zscaler from $330.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $317.63.

Zscaler Price Performance

Zscaler stock opened at $213.98 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $247.65 and a 200 day moving average price of $277.88. Zscaler has a 12-month low of $164.78 and a 12-month high of $336.99. The stock has a market cap of $34.12 billion, a P/E ratio of -822.97, a PEG ratio of 3,461.02 and a beta of 1.02.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,843 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total value of $656,221.26. Following the completion of the sale, the chief executive officer directly owned 347,857 shares in the company, valued at approximately $80,292,352.74. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Schlossman sold 2,349 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $232.79, for a total transaction of $546,823.71. Following the transaction, the insider directly owned 74,653 shares in the company, valued at $17,378,471.87. The trade was a 3.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,550 shares of company stock valued at $5,511,509. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Binnacle Investments Inc bought a new stake in shares of Zscaler in the 3rd quarter valued at approximately $25,000. Tradewinds Capital Management LLC boosted its stake in Zscaler by 145.7% in the 3rd quarter. Tradewinds Capital Management LLC now owns 86 shares of the company’s stock valued at $26,000 after buying an additional 51 shares in the last quarter. Root Financial Partners LLC bought a new stake in Zscaler in the third quarter valued at $26,000. McIlrath & Eck LLC acquired a new position in Zscaler during the third quarter worth $29,000. Finally, Quaker Wealth Management LLC lifted its holdings in shares of Zscaler by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 97 shares of the company’s stock valued at $30,000 after acquiring an additional 194 shares during the period. 46.45% of the stock is owned by institutional investors.

Key Zscaler News

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: KeyCorp reiterated an Overweight view and published detailed FY2026–FY2027 EPS forecasts (Q2–Q4 cadence and FY targets), supporting a higher-valuation thesis and giving investors modeled upside. What is KeyCorp’s Forecast for Zscaler Q1 Earnings?
• Positive Sentiment: Seeking Alpha reports that Zscaler’s growth path is “clearer and stronger”: GTM improvements, platform deals, Z-Flex customer consolidation, and AI & Data Security are now material growth engines (AI security >80% y/y; Data Security ARR ~ $450M) — a narrative that supports re-rating if execution continues. Zscaler: Growth Path Ahead Has Gotten Clearer And Stronger
• Neutral Sentiment: Zacks highlights heightened investor interest in ZS and outlines key facts investors are watching — a sign that stock moves may be driven partly by attention/flows as well as fundamentals. Zscaler, Inc. (ZS) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Analysis comparing Zscaler to Netskope frames this as a strategic AI-cybersecurity battle; such comparisons underline competitive risk but also validate market opportunity — important context for investors evaluating relative positioning. Zscaler Vs. Netskope: The Battle For The AI Cybersecurity Edge
• Negative Sentiment: Citigroup trimmed its price target to $305, which could cap near-term upside and introduce headwinds if investors re-price growth expectations versus peers. Citigroup Lowers Zscaler (NASDAQ:ZS) Price Target to $305.00
• Negative Sentiment: A Seeking Alpha piece with a “wouldn’t pull the trigger just yet” stance (despite a rating upgrade) injects caution — flagging valuation, timing, or execution risks that may make some investors hesitant to add here. Zscaler: I Wouldn’t Pull The Trigger Just Yet (Rating Upgrade)
• Negative Sentiment: A Zacks note on a recent intraday dip explains price sensitivity to earnings/guide cadence and broader market moves — a reminder that volatility remains a factor for ZS. Why Zscaler (ZS) Dipped More Than Broader Market Today

Zscaler Company Profile

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.