Citigroup Raises Zscaler (ZS) Price Target to $260

Citigroup has reiterated its Buy rating for Zscaler and increased its price target to $260, a 26.99% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 11:15 AM EDT · Updated Oct 16, 2026, 2:15 PM EDT

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Citigroup raised its price target on Zscaler, Inc. ($ZS) to $260 from $245 on October 15, 2026, and rates the stock "Buy".

Since the rating, $ZS is down 5.9% to date (from the $220.43 close on Oct 15, 2026).

ZS Zscaler, Inc.

$207.38 -5.98% year to date

Daily close · Oct 16, 2026

Key Points

On October 15, 2026, Citigroup reiterated its Buy rating on Zscaler, Inc. (ZS) and raised its price target to $260 from $245.
Citigroup's $260 price target implies 26.99% upside from Zscaler, Inc.'s ($ZS) current $204.74 share price.
The stock recently traded around $204.74, which is below the analyst target and the mean price target of $233.72.
Zscaler has reported a trailing twelve-month revenue of approximately $3.35 billion, reflecting a year-over-year growth rate of 24.9%.

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Citigroup has reiterated its Buy rating on Zscaler, Inc. (ZS) and raised its price target to $260 from $245 on October 15, 2026. The stock was recently trading at $204.74, which is below both the new target and the average analyst target of $233.72.

Analyst rating track record

Citigroup vs. the S&P 500

YTD return -6.15% hypothetical

All-time return -6.15% S&P 500 +3.80%

vs. S&P 500 -9.95% behind the index

Hypothetical returns from Citigroup's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Zscaler

Several other funds have also shown interest in Zscaler. Blackrock Inc. holds 9,890,384 shares, valued at about $2.05 billion, after increasing its stake by 1,322,088 shares. Vanguard Portfolio Management LLC has 6,196,726 shares worth around $1.29 billion, growing its holdings by 266,277 shares. Vanguard Capital Management LLC owns 4,721,393 shares valued at approximately $979.1 million, with a modest increase of 60,590 shares. First Trust Advisors LP has 3,529,213 shares worth about $731.9 million, with a slight increase of 10,556 shares. Goldman Sachs Group Inc. holds 3,161,548 shares valued at about $655.6 million, having added 236,626 shares.

Zscaler, Inc. Stock Down 7.3%

Zscaler's shares are currently trading above both the 50-day moving average by about 7.8% and the 200-day moving average by 23.4%. However, the stock is still below its 52-week high by 39.2%, indicating room for potential growth. The recent trading level also sits below the mean analyst target, suggesting that there may be upside potential if analysts' expectations are met.

12-month forecast

$ZS price target

Zscaler, Inc. daily closes and this analyst's $260 target. Not advice.

Recent Earnings

Zscaler has reported a trailing twelve-month revenue of about $3.35 billion, reflecting a year-over-year growth rate of 24.9%. The next earnings report is scheduled for November 24, 2026.

Insider Buying and Selling at Zscaler, Inc.

Insider activity has been notable, with several officers selling shares. Adam Geller sold 661 shares at $200 each, totaling $132,200, and Robert S Schlossman sold 5,394 shares at the same price for a total of $1,078,800 on September 21, 2026. Chief Financial Officer Kevin E Rubin sold 519 shares, valued at $102,390, on September 25, 2026. Additionally, Geller sold 25,000 shares on October 12, 2026, although no price was specified for this transaction.

Analysts Set New Price Targets

On October 15, 2026, Citigroup maintained its Buy rating on Zscaler and raised its price target to $260. Other firms have also issued ratings recently, with Macquarie maintaining an Outperform rating with a target of $250, and UBS also keeping a Buy rating with a target of $250. Citizens maintained a Market Outperform rating, raising its target to $265 from $210.

About Zscaler

Zscaler, Inc. provides cloud security solutions globally, focusing on protecting organizations' data and applications. The company operates in the technology sector, specifically within the software infrastructure industry. Its recent performance and ratings from analysts reflect a strong interest in its growth potential.

Bottom Line

Investors should keep an eye on Zscaler's upcoming earnings report on November 24, 2026, as well as any further updates from analysts. Citigroup's reaffirmed Buy rating and increased price target suggest confidence in the company's future performance.