Zscaler shares fall 10% to $193.05 despite higher analyst targets

  • Zscaler shares fell 10% to $193.05 despite higher targets from RBC Capital and Mizuho.
  • RBC raised its target to $236, while Mizuho lifted its target to $220.
  • Zscaler scheduled its Investor Day for October 6 in New York City.

Zscaler shares fell 10% to $193.05 over the past week despite higher price objectives from RBC Capital Markets and Mizuho. RBC lifted its target to $236 from $210 and retained an Outperform rating, while Mizuho raised its target to $220 from $210 and also maintained Outperform. The changes followed Ross Tackett’s move into the Chief Revenue Officer role after Mike Rich departed for personal reasons. Tackett had previously led worldwide sales and the Americas territory and has effectively overseen sales operations since May; Rich will remain with Zscaler as an adviser through December 2026. Analysts said the transition was orderly and did not require updated guidance. Zscaler’s fiscal 2026 fourth-quarter revenue rose 25% year over year to $898.2 million, exceeding consensus by about 2%. FBN Securities, Stephens and JPMorgan also issued or maintained positive targets, while Guggenheim kept a Buy rating and $214 objective. Zscaler is scheduled to hold an Investor Day in New York City on October 6.

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