Is Now The Right Time For Zscaler Stock?

• Zscaler shares rose 73% in three months, still 24% below their 2025 peak. • Valuation at 12.3× trailing sales, up from 6.8× in June 2026. • Company guided 16.6–17.5% revenue growth for FY2027. Zscaler (ZS) stock jumped 73.2% over the last three months, yet remains 24.1% below its November 2025 high. Shares trade at 12.3× trailing sales, well above the 6.8× multiple at end-June 2026. With an operating loss of 3.6% of revenue, the firm generates $1.13B in cash flow and trades at 36.6× that figure. Annual recurring revenue reached $3.8B, up 25% YoY. Management guided fiscal-Q1 2027 revenue of $935–939M and full-year growth of 16.6–17.5%.