Shares of Zscaler Inc. (NASDAQ: ZS) have been going through a rough patch, sliding nearly 30% in just a few weeks and bringing one of the market’s hottest cybersecurity stocks crashing back to earth. It’s a sharp reversal for a name that had rallied almost 100% since April and looked to be cementing itself as a long-term growth story. However, right now the chart looks broken, sentiment is shot, and the bears have been running wild.
Yet despite that, many analysts continue to see a compelling long-term opportunity and haven’t been afraid to say so. As we head into the final few weeks of the year, this tug-of-war makes Zscaler one of the more interesting setups heading into 2026. Let’s jump in and take a closer look.
