---
title: "Citizens maintains Market Outperform rating on Zscaler, $265 price target"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/301402959.md"
description: "Citizens maintained its Market Outperform rating on Zscaler (ZS) with a $265 price target, implying 22.2% upside from the Oct 8 close. The firm cites strong growth prospects, including 25% revenue growth in FY26 and an $8 billion ARR target by FY31, driven by AI and Zero Trust adoption. Management confidence is bolstered by reaffirmed FY27 guidance and successful new logo acquisitions. This follows similar positive ratings from other analysts like Macquarie and Scotiabank."
datetime: "2026-10-09T12:54:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/301402959.md)
  - [en](https://longbridge.com/en/news/301402959.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/301402959.md)
generator: "portal-rs"
---

# Citizens maintains Market Outperform rating on Zscaler, $265 price target

Citizens maintained their Market Outperform rating on Zscaler's stock with a price target of $265.00.

The price target implies an upside of 22.2% from the Oct 8 close of $216.81.

**Key takeaways from the analyst note**

**Strong Growth Prospects**: Zscaler has demonstrated robust revenue growth, achieving a 25% increase in FY26 and setting a target of $8 billion in annual recurring revenue (ARR) by FY31, which reflects confidence in sustained demand for its cybersecurity solutions amidst increasing enterprise adoption of AI and Zero Trust architectures.

**Competitive Positioning and Management Confidence**: The company is well-positioned in the market with a comprehensive Zero Trust security platform, as evidenced by its significant daily transaction monitoring and successful new logo acquisitions. The reaffirmation of FY27 guidance by a newly appointed and experienced management team further underscores the firm's strategic execution capabilities and market confidence.

**Recent analyst actions on ZS**

| Date  | Firm        | Action     | Rating            | Price target |
| ----- | ----------- | ---------- | ----------------- | ------------ |
| Oct 7 | Macquarie   | Maintains  | Outperform        | $250         |
| Oct 7 | Scotiabank  | Maintains  | Sector Outperform | $255         |
| Oct 7 | RBC Capital | Reiterates | Outperform        | $236         |
| Oct 7 | TD Cowen    | Maintains  | Buy               | $230         |
| Oct 7 | Stifel      | Maintains  | Buy               | $235         |

Across the five most recent analyst notes published on ZS over the past 30 days, price targets range from $230 to $255.

Explore more price target data and ratings for Zscaler on the .

**Disclaimer**

Select reference data provided by Benzinga. This information is not a recommendation for what you should do personally and does not constitute investment advice.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**