Amerx Initiates Coverage of Zscaler with Buy
Fintel reports that on October 8, 2026, Amerx initiated coverage of Zscaler (NASDAQGS:ZS) (BMV:ZS) with a Buy recommendation.
Zscaler, Inc., based in the United States, operates primarily within the cybersecurity industry. The company specializes in delivering comprehensive, cloud-based security solutions that enable secure digital transformation for enterprises globally. Its key projects revolve around its flagship services such as Zscaler Internet Access and Zscaler Private Access, which provide users and enterprises with secure and fast access to internal and cloud-based applications without the need for traditional VPNs. These services leverage Zscaler's global cloud platform, designed to enhance visibility, increase security, and improve user experience across public and private networks. Notably, Zscaler emphasizes innovation in zero trust network architecture, constantly updating its portfolio to address evolving cybersecurity threats and compliance requirements.
Prior to the rating action, on October 7, 2026, the stock closed at $213.55. This latest close represents a price change of +7.09% over one week, compared to a baseline close of $199.42 on September 30, 2026. Over a one-month period, the stock experienced a price change of +25.77% from a baseline close of $169.80 on September 4, 2026.
Zscaler reported its latest earnings on September 3, 2026, with an actual earnings per share (EPS) of 1.19, which exceeded the estimated EPS of 1.1177, representing a surprise of +6.47%. The company's actual revenue for the period was $898,185,000.00, compared to an estimated revenue of $903,685,414.00. As of October 2, 2026, the current consensus target mean for the stock stood at $216.49, with a median target of $218.79, representing an implied change of +1.37%. This is an increase from the prior consensus target mean of $213.59 recorded on September 15, 2026, reflecting a consensus target revision of +1.36%.
For the recommendation period of September 1, 2026, the aggregate analyst sentiment showed 16 strong buy, 29 buy, and 12 hold recommendations, totaling 57 recommendations. This represents 78.9% positive and 21.1% hold recommendations. In the prior period of August 1, 2026, there were 16 strong buy, 30 buy, and 11 hold recommendations, representing 80.7% positive and 19.3% hold recommendations. On October 7, 2026, the day before Amerx's action, several other firms maintained or reiterated their ratings. Stephens & Co., Barclays, Wells Fargo, and JP Morgan all maintained their Overweight ratings, while Scotiabank maintained its Sector Outperform rating. Truist Securities also reiterated its Buy rating on the same day.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| October 8, 2026 | Amerx | Buy | initiated coverage | |
| October 7, 2026 | Stephens & Co. | Overweight | Overweight | maintained |
| October 7, 2026 | Barclays | Overweight | Overweight | maintained |
| October 7, 2026 | Scotiabank | Sector Outperform | Sector Outperform | maintained |
| October 7, 2026 | Wells Fargo | Overweight | Overweight | maintained |
| October 7, 2026 | JP Morgan | Overweight | Overweight | maintained |
| October 7, 2026 | Truist Securities | Buy | Buy | reiterated |
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This story originally appeared on Fintel.