Zscaler's Q4 Revenue Guidance Prudent on Short-Term Disruption From Sales Leadership Transition, Oppenheimer Says

[출처/시간] MT Newswires - 11:47 AM ET, 05/27/2026

11:47 AM EDT, 05/27/2026 (MT Newswires) -- Zscaler's (ZS) Q4 revenue guidance remains prudent given short-term potential for short-term disruption around sales leadership transition, Oppenheimer said in a Wednesday research note.

The management further took a conservative first look at fiscal 2027 as it calibrates net-new annual recurring revenue seasonality and takes a measured stance on new logo contributions, while also acknowledging limited visibility into legacy Red Canary customer transitions, the note said.

Oppenheimer added that while its near-term estimates mover lower, they establish a more "achievable baseline that sets the stage for consistent execution and positive revisions over the course of fiscal 2027."

Noting the company's mixed fiscal Q3 results, Oppenheimer said that Zscaler's new offerings like Data Security, AI Protect, and non-seat-based metered solutions are showing solid traction.

Oppenheimer reiterated its outperform rating and its $250 price target.

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