ZS NASDAQ Week ended 09 Oct 2026

Weekly Investor Report

Zscaler Inc · Technology · Software - Infrastructure

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Latest close 233.73 USD
18.9% latest week
Weekly setup

Constructive, but selective

The weekly trend is active. Price is 49.0% above the Trend Line and sits at 53.6% of its 52-week range. The latest completed week returned 18.9%, after a 42.1% four-week move. The latest factor snapshot indicates quality is middle-of-the-pack; growth ranks strongly; valuation is expensive relative to peers. Options positioning is bullish with 50/100 conviction, while the latest news-sentiment score is 56/100. Near-term considerations: earnings are due in 45d.

Setup score 60 out of 100
Latest Close 233.73 USD 9 Oct 2026
1W Return 18.9% latest completed week
4W Return 42.1% short-term follow-through
12W Return 55.9% quarterly tape
Trend Breadth 25.0% 13 of 52 weeks active
Volume Ratio 1.2x vs 13-week average
What is working
  • The trend backdrop is active with a 7-week active streak.
  • Price is above the Trend Line, keeping the weekly tape constructive.
  • Price is above Fair Value, showing premium demand versus the model.
  • Activity pressure is positive on the latest completed week.
What could go wrong
  • The share remains more than 20% below its 52-week high.
What to watch next
  • Trend Line remains the key weekly regime level.
  • Activity pressure is the gauge to monitor for confirmation or fade.
  • A volume ratio above 1.5x would show stronger participation in the next move.
Price follow-through 18.9% Latest completed week; four-week move 42.1%. Indicator stack 38/85 Trend and activity pressure are weighted against the latest 12-week confirmation window. Trend backdrop Active The trend backdrop defines the current weekly regime. Patient Capital Quiet Activity-pressure buy-signal status for institutional accumulation timing. Next-Week Expectancy Positive 56.73% Historical one-week expectancy contributes to the evidence score when direction is confirmed. Options pressure Bullish 50/100 conviction; expected move 5.6%. News sentiment 56/100 99 relevant articles in the latest sentiment read. Event risk 45d Next report is scheduled for 24 Nov 2026; event risk rises as the date approaches.
01 · Price action

Where price is—and whether the trend supports it

The weekly trend is active. Price is 49.0% above the Trend Line and sits at 53.6% of its 52-week range. The latest completed week returned 18.9%, after a 42.1% four-week move.

Study the full chart

52-week price path

Price vs Trend Line and Fair Value
Price Trend Line Fair Value
02 · Volume and demand

Is real participation confirming the move?

Latest weekly volume is 1.2x the 13-week average. Participation is around or above normal and provides reasonable confirmation.

26-week volume confirmation

Bar height shows volume; colour shows the weekly price direction
17 Apr 24 Apr 1 May 8 May 15 May 22 May 29 May 5 Jun 12 Jun 19 Jun 26 Jun 3 Jul 10 Jul 17 Jul 24 Jul 31 Jul 7 Aug 14 Aug 21 Aug 28 Aug 4 Sep 11 Sep 18 Sep 25 Sep 2 Oct 9 Oct
Up week Down week
Demand beneath price

Activity pressure and institutional-style signals

These indicators assess whether participation is improving beneath the headline price move. They are supporting evidence, not proof of institutional buying.

Activity pressure path

Latest 0.6112-week average 0.31

12-week confirmation

Trend active7/12Active trend-backdrop weeks in the latest 12-week window.
Positive pressure12/12Weeks with constructive activity pressure in the latest 12-week window.
Positive leadership1/12Weeks with positive relative leadership in the latest 12-week window.
Activity pressure0.61Current proprietary activity-pressure read.
Buy signals1Accumulation signal count in the latest 12 weeks.
Reversal markers0No reversal markers

4 accumulation markers. No reversal markers.

03 · Momentum and leadership

Is performance persistent—and is the stock leading?

Performance is 42.1% over four weeks, 55.9% over 12 weeks, and -24.6% over one year. The current trend has remained active for 7 consecutive weeks.

Performance by holding period

1W18.9%
4W42.1%
12W55.9%
26W98.0%
52W-24.6%
Active trend streak7 weeks
Active weeks in one year13
Trend breadth25.0%

Activity pressure vs relative leadership

Activity pressureRelative leadership
Pressure1.79Latest activity-pressure read.
Pressure change30.4%Four-week change in activity pressure.
Leadership7.48Latest relative-leadership reading.
RS change129.9%Four-week change in relative leadership.
04 · Fundamentals and valuation

What investors are paying for—and the quality behind it

The latest factor snapshot indicates quality is middle-of-the-pack; growth ranks strongly; valuation is expensive relative to peers.

Open full factor analysis
Factor week 02 Oct 2026 Financial statements through 31 Jul 2026 Field coverage 88% Model confidence 88%

Relative factor standing

Higher display scores are better. Each score is converted from the underlying universe rank, where rank 1 is best.

Overall factor strength3/100Blend of value, momentum, and quality. Underlying universe rank 98; rank 1 is best.
Value7/100Relative valuation strength. Underlying universe rank 94; rank 1 is best.
Quality32/100Profitability and accounting quality. Underlying universe rank 69; rank 1 is best.
Momentum6/100Medium-term price momentum. Underlying universe rank 95; rank 1 is best.
Growth81/100Revenue and earnings growth. Underlying universe rank 20; rank 1 is best.
How to read this

Quality and valuation are separate questions

A strong company can still carry a demanding valuation. This report shows profitability, growth, balance-sheet strength, and the price paid for those characteristics separately.

Valuation

How much investors are paying for earnings, sales, and cash flow.

P/E
-
Price divided by trailing earnings.
Price / sales
9.6x
Market value relative to trailing revenue.
EV / EBITDA
561.5x
Enterprise value relative to operating cash earnings.
Free-cash-flow yield
2.6%
Free cash flow as a share of enterprise value.

Business quality

Margins and the return generated on invested capital.

Gross margin
76.8%
Gross profit retained from each unit of revenue.
Operating margin
-4.0%
Operating profit retained from revenue.
Free-cash-flow margin
25.4%
Free cash flow generated from revenue.
Return on invested capital
-2.8%
Operating return generated on invested capital.

Growth and financial strength

Recent business growth and accounting strength.

Revenue growth
25.4%
Latest one-year revenue growth.
EPS growth
-
Latest one-year earnings-per-share growth.
Free-cash-flow growth
7.7%
Latest one-year free-cash-flow growth.
Piotroski F-score
4/9
Nine-point accounting-strength checklist.

Shareholder return and balance sheet

Cash returned to owners and financial leverage.

Dividend yield
-
Cash dividends relative to market value.
Buyback yield
-0.2%
Net share repurchases relative to market value.
Shareholder yield
-0.2%
Dividend yield plus net buyback yield.
Net debt / EBITDA
15.8x
Balance-sheet debt relative to operating cash earnings.
05 · Ownership, options, and sentiment

What other market participants are doing

Options, insider transactions, market sentiment, and activity-pressure signals can confirm or challenge the price story. None should be used alone.

Options positioningBullish

ZS shows bullish options pressure with a 50/100 conviction score, put-call volume ratio of 0.61, expected move of 5.6%, and Sharemaestro trend signal active.

Conviction50/100
Expected move5.6%
Put/call volume0.61
Pressure27
Speculation43
Volatility58
Trend agreement91
Open options detail
Insider activity0 / 20

0 acquisitions and 20 disposals in the latest 180-day insider tape.

Acquisitions / disposals over the latest 180 days. Insider activity is context, not a stand-alone signal.
News sentiment56/100

Weighted news tone is neutral across 99 relevant articles.

28 positive · 61 neutral · 10 negative
Patient CapitalQuiet

Activity-pressure buy-signal evidence highlights potential institutional accumulation windows.

No recent buy signal
06 · Catalysts and risk

What can move the shares—and how volatile the path has been

Event timing, options-implied movement, drawdown, and weekly return distribution frame the risk around the current setup.

Next earnings45dNext report is scheduled for 24 Nov 2026; event risk rises as the date approaches.
Options expected move5.6%Nearest-chain priced movement where available.
52-week drawdown-30.6%Distance below the 52-week high.
13-week volatility8.4%Standard deviation of weekly returns.

Weekly gains and losses

Latest 26 completed weeks

Each bar is one week. Gains rise above the zero line; losses fall below it. Taller bars mean a larger weekly move.

Weeks higher16 of 2610 weeks finished lower.
Best week+19.9%Week of 18 Sep.
Worst week-23.4%Week of 29 May.
Latest week+18.9%Week of 9 Oct.

Shape of recent returns

Strong gains12
Modest gains4
Flat weeks0
Modest losses5
Sharp losses5
Recent vol8.4%13-week weekly-return volatility.
Base vol8.6%52-week weekly-return volatility.
Up/down split21/31Count of positive and negative weeks in the 52-week window.
Average skew8.2% / -5.8%Average positive week versus average negative week.
07 · Sector and peer context

Is this stock leading—or simply moving with its group?

Sector and industry breadth distinguish company-specific strength from a broad group move.

08 · Evidence and weekly data

The underlying research record

Every top-level statement above should be traceable to a stored market, fundamental, event, or positioning observation.

Weekly tape56/100

Trend, activity pressure, participation, and risk combine to a 56/100 tape read.

 Indicator analysis62/100

Latest 12-week confirmation: trend 7/12, activity pressure 12/12, relative leadership 1/12.

Activity pressure 0.61; No reversal markers Next-Week ExpectancyPositive 56.73%

Next-week expectancy is positive with a 56.73% historical one-week setup read.

Adds short-term historical context without overriding trend, activity, or relative leadership. Factors11/100

O'Shaughnessy factor stack blends value, quality, momentum, and confidence.

Buyback Yield rank 80 Patient CapitalQuiet

Activity-pressure buy-signal evidence highlights potential institutional accumulation windows.

No recent buy signal Options73/100

Call activity leads. Options balance and the saved weekly stock trend agree.

2026-10-09 · Checks passed · Priced move ±5.6% Sentiment56/100

Weighted news tone is neutral across 99 relevant articles.

Zscaler Jumps 6% on Reaffirmed Revenue Outlook and IBM Security Pact; Palo Alto and CrowdStrike Gain 4% Insiders0 / 20

0 acquisitions and 20 disposals in the latest 180-day insider tape.

 Earnings45d

Next report is scheduled for 24 Nov 2026; event risk rises as the date approaches.

 Research flow4 items

2 recent research articles and 2 Market Watch posts are available.
WeekCloseReturnTrend LineFair ValuePressureLeadershipVolumeTrend
9 Oct 2026233.73 USD18.9%156.91 USD206.19 USD1.797.4816.9MOn
2 Oct 2026196.60 USD1.8%154.24 USD205.77 USD1.64-10.6710.9MOn
25 Sep 2026193.05 USD-2.2%153.16 USD205.56 USD1.66-13.0817.2MOn
18 Sep 2026197.31 USD19.9%151.62 USD205.32 USD1.52-9.6122.8MOn
11 Sep 2026164.54 USD-3.1%150.37 USD205.03 USD1.37-24.9712.3MOn
4 Sep 2026169.80 USD-7.8%150.81 USD204.98 USD1.42-24.2223.7MOn
28 Aug 2026184.23 USD1.4%150.73 USD204.92 USD1.36-18.7011.6MOn
21 Aug 2026181.74 USD-1.0%151.25 USD204.75 USD1.29-20.5710.2MOff
14 Aug 2026183.60 USD8.8%152.18 USD204.50 USD1.09-22.8112.2MOff
7 Aug 2026168.68 USD11.6%153.20 USD204.20 USD0.92-29.2410.9MOff
31 Jul 2026151.20 USD6.2%154.80 USD204.03 USD0.71-34.2511.9MOff
24 Jul 2026142.32 USD-5.1%157.11 USD204.00 USD0.63-38.798.5MOff
17 Jul 2026149.94 USD7.7%160.05 USD204.10 USD0.57-37.6012.2MOff
10 Jul 2026139.27 USD-5.5%162.80 USD204.09 USD0.46-45.3614.9MOff
How to use this report

This is a completed-week research summary. It explains the available evidence and its conflicts; it does not predict a guaranteed outcome or replace your own risk assessment. Fundamental figures may refer to an earlier financial reporting period, which is shown above.

Evidence context