ZS Zscaler, Inc.
Price Chart
Executive Summary
B. Riley Securities double-upgraded NVIDIA from Neutral to Buy on May 18, setting a $225 price target, a 40% upside from the $161.05 close. The call is contrarian: B. Riley had previously cut its PT from $275, but now reverses course, citing improved risk/reward. The firm is moderately accurate at 54% on 986 calls with a 10% average return. Consensus is heavily bullish — 47 of 58 analysts rate Buy or Strong Buy, with a mean target of $224.12. However, recent analyst momentum is mixed: Morgan Stanley downgraded to Equal-Weight at $155 in April, and BTIG dropped to Neutral. EPS revisions show slight downward pressure over 30 days, with 0 upgrades vs 1 downgrade for the current quarter. Insider selling in March totaled ~$1.4M from C-suite executives, a weak bearish signal. Short interest is elevated at 55.1% of float, suggesting crowded positioning. The bottom line: B. Riley's double upgrade is a bold contrarian call from a mid-tier firm, but the insider selling and mixed analyst momentum temper conviction.
Impact Score
Consensus & Targets
Consensus is heavily bullish: 15 Strong Buy, 32 Buy, 11 Hold, 0 Sell, 0 Strong Sell — 81% Buy/Strong Buy. 58 analysts cover the stock. Direction is firmly bullish, though B. Riley's double upgrade from Neutral is a contrarian shift within that consensus.
Current price: $161.05. Mean target: $224.12 (implied upside +39.2%). Median: $215. High: $330, Low: $140. B. Riley's $225 PT is slightly above the mean and median, aligning with the bullish consensus but not at the extreme.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-05-18 | B. Riley Securities | upgrade | Buy | $225.00 |
| 2026-05-18 | Rosenblatt | maintain | Buy | $223.00 |
| 2026-05-18 | Keybanc | maintain | Overweight | $190.00 |
| 2026-05-01 | Citizens | maintain | Market Outperform | $210.00 |
| 2026-04-22 | Morgan Stanley | downgrade | Equal-Weight | $155.00 |
| 2026-04-15 | Keybanc | maintain | Overweight | $160.00 |
| 2026-04-09 | BTIG | downgrade | Neutral | — |
| 2026-03-10 | Oppenheimer | maintain | Outperform | $250.00 |
| 2026-03-03 | Wells Fargo | initiate | Overweight | $200.00 |
| 2026-03-02 | Citigroup | maintain | Buy | $195.00 |
30-day analyst activity: 1 upgrade (B. Riley), 1 downgrade (Morgan Stanley to Equal-Weight at $155). EPS revisions: 0 upgrades vs 1 downgrade for the current quarter; 0 vs 1 for the current year. Estimates are under slight downward pressure, not supportive of a bullish catalyst.
Firm Track Record — B. Riley Securities
B. Riley Securities accuracy: 54% on 986 calls | avg return: 10%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Stephens & Co. | 100% | 3/3 | 19.8% | top tier |
| Truist Securities | 100% | 2/2 | 1.9% | top tier |
| Loop Capital | 80% | 4/5 | 10.8% | top tier |
| Barclays | 73% | 8/11 | 4.2% | top tier |
| Baird | 71% | 5/7 | 8.8% | top tier |
| Stifel | 71% | 5/7 | 1% | top tier |
| Bernstein | 67% | 2/3 | -18.5% | top tier |
| Mizuho | 64% | 7/11 | -2% | top tier |
| BMO Capital | 63% | 5/8 | 12.1% | top tier |
| Wedbush | 60% | 3/5 | 5% | above average |
B. Riley Securities has a 54% accuracy rate on 986 calls with a 10% average return — mid-tier performance. Top firms on this ticker include Stephens & Co. (100% on 3 calls, +19.8% avg return) and Loop Capital (80% on 5 calls, +10.8%). B. Riley's accuracy is below these top-tier firms, reducing the weight of this call.
Earnings Estimates
Next earnings: May 27, 2026
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $1.01 | $0.94 — $1.07 | $835.7M | ↑0 ↓0 |
| +1q | $1.03 | $1.01 — $1.16 | $878.7M | ↑0 ↓0 |
| 0y | $4.02 | $3.80 — $4.47 | $3.3B | ↑0 ↓0 |
| +1y | $4.59 | $3.81 — $5.23 | $4.0B | ↑0 ↓0 |
Cross-Platform Signals
Insider trades: $1.4M in C-suite sales in March (CEO, CFO, EVPs) — a weak bearish signal that diverges from the bullish analyst call. No congressional trades. Institutional activity mixed: Morgan Stanley added 25.4%, but Two Sigma trimmed 63.9% and Bank of America trimmed 52.9%. Short interest is 55.1% of float — elevated, suggesting potential squeeze risk but also crowded short positioning. The insider selling and institutional trimming diverge from B. Riley's upgrade, reducing conviction.
Actionable Insight
B. Riley's double upgrade is a contrarian bullish signal from a mid-tier firm, but insider selling and mixed institutional flows argue against aggressive positioning. Traders should treat this as a tactical long entry with a stop below $150, given the May 27 earnings catalyst.
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 1, 2026
4d ago
|
ANALYST-UPGRADE
| — | awaiting T+5 | — | — |
|
May 31, 2026
5d ago
|
ANALYST-UPGRADE
| $232.67 $229.12 | ▼ −1.53% | ▼ −2.86% | $130.78 (−43.79%) |
|
May 27, 2026
9d ago
|
ANALYST-DOWNGRADE
| — | awaiting T+5 | — | — |
|
May 26, 2026
10d ago
|
8-K
| $126.17 $134.28 | ▲ +6.43% | ▲ +5.96% | $130.78 (+3.65%) |
|
May 22, 2026
14d ago
|
ANALYST-DOWNGRADE
| $142.00 $134.27 | ▲ +5.44% | ▲ +5.50% | $130.78 (+7.90%) |
|
May 21, 2026
15d ago
|
Press Release
| — | awaiting T+5 | — | — |
|
May 19, 2026
17d ago
|
Press Release
| — | awaiting T+5 | — | — |
|
May 18, 2026
18d ago
|
ANALYST-UPGRADE
| — | awaiting T+5 | — | — |
|
May 9, 2026
27d ago
|
ANALYST-DOWNGRADE
| $121.25 $134.28 | ▼ −10.75% | ▼ −7.56% | $130.78 (−7.86%) |
|
May 7, 2026
29d ago
|
Press Release
| $152.03 $152.43 | ▲ +0.26% | ▼ −1.24% | $130.78 (−13.98%) |
US Market Status
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