Zscaler is the pure-play Zero Trust SASE leader benefiting from enterprise VPN replacement and remote work permanence. Federal market wins (DoD JWCC, civilian agencies) provide multi-year tailwind. Zero Trust Exchange handles 500B+ daily transactions, creating data moat for AI-driven threat detection. Sales productivity is improving post-leadership transitions. Free cash flow margin expansion path supports premium multiple.
Thesis reviewed May 29, 2026
Zscaler Inc. is headquartered in United States, which is currently showing moderate signals.
🇺🇸United States60NEUTRALView United States risk detail →💻Technology24WATCH| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| ZS | Zscaler Inc. | 29 | +14% | ↓8% | EARLY |
| META | Meta Platforms Inc. | 29 | +20% | ↓8% | EARLY |
| HUBS | HubSpot Inc. | 29 | +10% | ↓8% | EARLY |
| SHOP | Shopify Inc. | 29 | +13% | ↓8% | EARLY |
| SNOW | Snowflake Inc. | 29 | +9% | ↓8% | NEUTRAL |
| PSO | Pearson PLC | 29 | +10% | ↓8% | NEUTRAL |
| NOW | ServiceNow Inc. | 29 | +17% | ↓8% | EARLY |
Investors who hold ZS may also have indirect exposure through these country funds.
Zscaler federal ARR grows 50% YoY on JWCC and zero-trust mandates
Zero Trust Exchange threat data drives AI co-pilot deployment
Estimates · Yahoo Finance · Not audited figures