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Barchart
Wajeeh Khan

This Analyst Just Cut Zscaler Stock to 'Neutral.' Here's Why.

ZS Zscaler BTIG Gray Powell

Zscaler (ZS) shares ended deep in the red on April 9 after senior BTIG analyst Gray Powell issued a bearish note on the San Jose-headquartered cloud security company. 

In a research note this morning, Powell downgraded ZS to “Neutral” and removed it from the firm’s first-half 2026 top picks list. BTIG no longer has a price target on the Nasdaq-listed firm, either. 

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