Yahoo Finance analysis indicates that Zscaler's growth engine remains healthy, driven by innovation and platform adoption, as evidenced by its solid fourth-quarter and fiscal 2026 results released on September 3. FBN Securities reiterated an Outperform rating on September 4, raising the price target to $190 from $175. However, the company's fiscal 2027 ARR guidance, implying 16.6% to 17.4% growth, suggests a potential slowdown, which could lead to a lower market multiple and stock re-rating. Zscaler reported Q4 revenue up 25% year-over-year to $898.2 million, and ARR up 25% to $3.77 billion. Non-GAAP operating margin reached a record 24% in Q4.