Wells Fargo analyst Andrew Nowinski has reiterated their bullish stance on ZS stock, giving a Buy rating yesterday.
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Andrew Nowinski has given his Buy rating due to a combination of factors that highlight Zscaler’s strong market position and growth potential. The company is expected to report robust results for the fourth quarter of 2025, driven by positive channel checks and its leadership in the Zero Trust market. Nowinski anticipates that Zscaler will achieve an annual recurring revenue (ARR) of $3.1 billion for the quarter, surpassing consensus estimates, and believes the company can reach $4 billion in ARR for fiscal year 2026, which is significantly higher than the market consensus.
Additionally, Zscaler’s billing performance is projected to remain strong, with expectations of at least 20% growth over the next three years. The company’s operational margin is also expected to expand modestly, aligning with its long-term targets. These factors, combined with positive feedback from resellers and significant deal wins, underpin Nowinski’s confidence in Zscaler’s continued growth and justify the Buy rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $312.00 price target.