ZS
Zscaler Inc
ACTIONABLEMethodology gates passed
Position levels
Currenttoday
USD 176.68
Buy <=wait / entry
USD 148.33
Trim >=take some off
USD 195.00
Thesis breakA confirmed Q4 FY26 or FY27 result showing ARR growth below 20% year-on-year com...
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Scenario-weighted conviction
| Probability | Score | Contribution | |
|---|---|---|---|
| Bull case | 16% | 100 / 100 | 16.0 |
| Base case | 48% | 62 / 100 | 29.8 |
| Bear case | 36% | 10 / 100 | 3.6 |
| Weighted conviction | 49 / 100 - SPECULATIVE BUY | ||
Top risks
- M&A activity: completed acquisitions of Red Canary, SquareX, SPLXAI and announced intent to acquire Symmetry Systems to enhance AI and security capabilities
- Major contract win: multi-year cybersecurity deal with Aston Martin Aramco F1 Team
- Record number of $1M+ ARR deals closed in Q3 FY26 alongside robust cloud marketplace growth