Is Zscaler Inc. (NASDAQ:ZS) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating Zscaler Inc. at current levels.
Zero Trust is becoming the default network architecture, and Zscaler sits at the center even as AI-era security spending reshapes the buyer.
Where ZS is headed
By mid-2028, the corporate network as we knew it (MPLS lines, hardware firewalls at branch offices, VPN concentrators humming in dusty closets) will look as dated as a Blackberry. Zscaler is the company most responsible for that obsolescence. The destination is a world where 40,000+ enterprises route every packet through a cloud-delivered security fabric, and Zscaler holds the largest share of that traffic. Revenue should clear $4.2B by FY28 on roughly 22% growth, with free cash flow margins north of 27%. That's a $1.1B+ FCF business with another decade of runway, because the replacement cycle for legacy network gear (Palo Alto firewalls, Cisco SD-WAN, Check Point appliances) is still in the early innings outside the Fortune 500.
Read the full Compass Direction on ZS
The complete destination call, the overlooked angle, milestones, and bull, base, and bear price scenarios.
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Frequently asked questions
Is Zscaler Inc. (NASDAQ:ZS) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating Zscaler Inc. at current levels. Zero Trust is becoming the default network architecture, and Zscaler sits at the center even as AI-era security spending reshapes the buyer.
What is ZS's Compass Score?
Zscaler Inc. scores 81/100 on Alexandria's Compass, placing it in the "True North" tier. Scores blend eight factors and update weekly.
What is the price target for ZS?
Alexandria's full Compass Direction includes bull, base, and bear price scenarios with the valuation math behind each. Read the full breakdown on the ZS page.
Compass verdicts are AI-generated, forward-looking editorial research from publicly available data, not investment advice or a recommendation regarding any security. Scores and verdicts update as the data changes.