Zscaler stock seen undervalued with buy rating amid AI-driven security growth and conservative guidance.

Zscaler showed strong organic growth in FY26 but expects slower ARR growth in FY27 due to sales leadership changes. The company benefits from rising demand for AI-driven security, positioning its Zero Trust and AI Security products as key defenses. Despite a 40% stock drop over the past year, Zscaler trades at attractive valuation multiples compared to peers, suggesting potential upside. The analyst initiates a buy rating, citing momentum and undervaluation as reasons for optimism.

Zscaler trades at USD 189.99 on Pluang as of Nov 12, 2026 20:42 WIB, down 1.96% in one day. The stock's market cap stands at $31.60 billion with a 52-week low of $118.05. Pluang users show a buying interest of 59%, indicating steady demand despite recent price drops.