Zscaler (ZS) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Reported EPS
- $1.19
- Estimate
- $1.09
- Surprise
- +9.2%
- Revenue (period 2026-07-31)
- $898.2M
- Score at report (before → after)
- 5.8 → 5.7/10
Revenue source: xbrl.
How the report landed
Zscaler (ZS) beat the $1.09 estimate with diluted EPS of $1.19 — a clear 9.2% upside surprise. TrendMatrix's engine moved from Hold (5.8/10) to Sell at 5.7/10 after the report — the engine's score fell despite the beat.
Where TrendMatrix's rating stands now
TrendMatrix currently rates ZS Sell at 5.7/10.
4 of the last 4 quarters beat the estimate; this quarter's +9.2% surprise compares with a +10.1% four-quarter average. Next scheduled report: 2026-11-24.
What supports the rating
- Strong earnings beat streak (4/4)
- Strong growth profile
What argues against it
- Analyst target reached - limited upside remaining
- V7 low-quality RISK_OFF penalty: -0.5 (Q=5.0)
- Sector modifier (Technology): -0.8
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $192.05
- Price target
- $220.32
- Stop
- $178.17
- Upside to target
- +14.7%
Model outputs from TrendMatrix’s engine as of 2026-09-17 — shown for context, not personalized investment advice.
ZS at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Software - Infrastructure
- Market cap
- $31.61B
- P/E (fwd)
- 34.6
- 52-week range
- $114.63–$336.99
- Off 52-week high
- 43.0%
- RSI (14)
- 61
- Volume vs avg
- 0.97×
- Score today
- 5.7/10