Zscaler stock down 33% in a year, but Bernstein forecasts 50% gains within 12 months on AI and enterprise growth.

Zscaler's stock has fallen over 30% in the past year due to slowing growth and operational challenges, while its cybersecurity peers have doubled in value. Despite this, Bernstein analyst Peter Weed raised the price target to $298, predicting a 50% upside driven by deeper enterprise relationships, AI market expansion, and a favorable valuation compared to peers. The company’s fiscal 2027 revenue growth guidance is 16.6% to 17.5%, with AI-related security bookings growing rapidly. The next two quarterly reports will be critical to confirm if AI revenue and retention rates support Bernstein’s optimistic outlook.

Zscaler's market cap stands at $32.34 billion as of September 30, 2026, with a trading volume of 1,724,746 shares on Pluang. The stock price is $198.21, showing a minor 0.07% decline on the day. Pluang users have a typical hold time of 41 days for Zscaler shares, and current order activity leans toward selling at 64%.