Fintel reports that on April 22, 2026, Morgan Stanley downgraded their outlook for Zscaler (XTRA:0ZC) from Overweight to Equal-Weight.

Analyst Price Forecast Suggests 75.27% Upside

As of April 16, 2026, the average one-year price target for Zscaler is 200,68 €/share. The forecasts range from a low of 133,26 € to a high of 298,74 €. The average price target represents an increase of 75.27% from its latest reported closing price of 114,50 € / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Zscaler is 3,297MM, an increase of 9.86%. The projected annual non-GAAP EPS is 3.74, an increase of 12.71% from the prior forecast.

What is the Fund Sentiment?

There are 882 funds or institutions reporting positions in Zscaler. This is an decrease of 567 owner(s) or 39.13% in the last quarter. Average portfolio weight of all funds dedicated to 0ZC is 0.12%, an increase of 57.87%. Total shares owned by institutions decreased in the last three months by 4.90% to 85,926K shares.

What are Other Shareholders Doing?

First Trust Advisors holds 2,583K shares representing 1.61% ownership of the company. In its prior filing, the firm reported owning 2,228K shares , representing an increase of 13.74%. The firm decreased its portfolio allocation in 0ZC by 14.90% over the last quarter.

Price T Rowe Associates holds 2,572K shares representing 1.60% ownership of the company. In its prior filing, the firm reported owning 1,795K shares , representing an increase of 30.22%. The firm increased its portfolio allocation in 0ZC by 8.41% over the last quarter.

Goldman Sachs Group holds 2,412K shares representing 1.50% ownership of the company. In its prior filing, the firm reported owning 1,830K shares , representing an increase of 24.14%. The firm decreased its portfolio allocation in 0ZC by 0.30% over the last quarter.

American Century Companies holds 2,402K shares representing 1.49% ownership of the company. In its prior filing, the firm reported owning 2,419K shares , representing a decrease of 0.72%.

Geode Capital Management holds 2,070K shares representing 1.29% ownership of the company. In its prior filing, the firm reported owning 1,971K shares , representing an increase of 4.74%. The firm decreased its portfolio allocation in 0ZC by 23.76% over the last quarter.