WallStSmart
ZS

Zscaler Inc

NASDAQ: ZS · TECHNOLOGY · SOFTWARE - INFRASTRUCTURE

$134.73
-0.98% today

Updated 2026-04-29

Market cap
$21.66B
P/E ratio
—
P/S ratio
7.22x
EPS (TTM)
$-0.43
Dividend yield
—
52W range
$115 – $337
Volume
3.1M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Zscaler Inc (ZS) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$134.73
Consensus
$269.00
+99.66%
2030 Target
$530.18
+293.51%
DCF
$329.00
+48.02% MoS
36 analysts:
19 Buy7 Hold0 Sell

Management guidance

CEO Jay Chaudhry has not provided specific multi-year revenue targets in the available data. However, Q2 FY2026 results show $815.75M in quarterly revenue (+25.9% YoY), with management guiding to continued strong enterprise adoption driven by Zero Trust Everywhere platform expansion and Z-Flex subscription model which generated $290M in bookings in Q2 FY2026 (+65% sequentially). The company is targeting sustained double-digit to high-teens revenue growth through continued platform consolidation and international expansion.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$878.98
$7.0B Rev × 20x P/S
Base case (2030)
$530.18
$7.0B Rev × 12x P/S
Bear case (2030)
$348.80
$7.0B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$1.6B$2.2B$2.7B$3.4B$4.1B$4.9B$5.8B$7.0B
Revenue growth—34.1%23.3%27.8%19.6%19.6%19.3%19.6%
EPS$1.78$3.19$-0.07$4.07$4.70$5.64$6.77$8.14
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$251.14$306.94$362.75$432.51$530.18

Catalysts & risks

Growth catalysts
+ Zero Trust Everywhere platform adoption acceleration driving enterprise expansion revenue
+ Z-Flex subscription model scaling (generated $650M+ total contract value, $290M Q2 bookings)
+ New strategic partnerships (P0 Security, Versa) expanding ecosystem and use cases
+ AI-powered threat detection and prevention capabilities addressing emerging threats
+ International market expansion and global sovereignty solutions driving geographic diversification
+ Large enterprise customer wins and RPO (Remaining Performance Obligations) growth continuation
Key risks
- Anthropic Claude Mythos AI model testing creating near-term investor concern about AI replacing cybersecurity services
- Multiple compression in SaaS sector with analysts cutting price targets despite earnings beats
- Intensifying competition from larger bundled platforms (Palo Alto Networks, CrowdStrike, Microsoft)
- Billings growth deceleration guidance causing investor skepticism on growth sustainability
- Operating losses still present (-2.3% profit margin) with path to sustained profitability uncertain
- Valuation sensitivity to growth rate changes given 30.5x forward P/E multiple

Methodology

Zscaler Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 36 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.