← ZSCALER INC. DL-,001 overview

ZSCALER INC. DL-,001 vs Fortinet: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

ZSCALER INC. DL-,001 (0ZC.XETRA)

Q3 2026
▼2▲1

Zscaler's AI security surge offset by slowing growth guidance and rising competition

  • AI security demand drives record deals Zscaler's Q4 fiscal 2026 results beat estimates with $1.19 EPS and $898M revenue, sending shares up 11% after hours. AI security demand drove record million-dollar deals, with over half the Fortune 500 now customers.

    This point highlights the positive impact of AI security demand on Zscaler's financial performance and stock price.

  • Fiscal 2027 guidance implies growth slowdown Fiscal 2027 guidance implies growth slowing to ~17% from 25%, triggering a 7.8% stock drop and a 3% workforce cut. This signals potential challenges ahead and weighed on investor sentiment.

    This point explains the negative reaction to the company's forward-looking guidance, which is a key driver of the stock's performance.

  • Palo Alto Networks intensifies competition Palo Alto Networks posted 40% SASE bookings growth and $400M in displacements, threatening Zscaler's core secure networking business and potentially pressuring market share and pricing.

    This point underscores the competitive pressures that could limit Zscaler's growth and negatively affect its stock price.

September 2026
▲2▼2

Zscaler's AI security push grows, but slower 2027 growth and competition weigh

  • Slower 2027 growth and AI restructuring Zscaler's fiscal 2027 guidance points to about 17% growth, down from 25%, and the company is cutting roughly 3% of staff to focus on AI. Investors worry demand is cooling, which pushed the stock down 7.8% on the news.

    This is the main new negative force behind the stock's recent drop and explains why growth concerns persist.

  • New AI security products and strong bookings Zscaler launched Agentic SOC, a new AI-powered security tool, and reported AI-security bookings above $100 million, up 50% from the prior quarter. Record $1 million deals and more Zero Trust customers show its AI bet is gaining traction, supporting future revenue.

    This shows the company's growth engine is expanding, which could offset slower overall growth and lift the stock.

  • Sector-wide AI safety bid lifts cybersecurity stocks Warnings from AI leaders about safety risks sparked a broad rally in cybersecurity stocks, with Zscaler jumping 12% in one day. This shows that rising AI fears can drive demand for security solutions, benefiting Zscaler even if the move is partly sentiment-driven.

    It highlights a new demand catalyst from AI safety concerns that directly boosted Zscaler's shares.

  • Intensifying competition in SASE Palo Alto Networks reported 40% SASE bookings growth and $400 million in displacements, aiming to become market leader. This signals tougher competition for Zscaler's core secure networking business, which could pressure its market share and pricing.

    It is a new competitive threat that could limit Zscaler's growth and weigh on the stock.

Latest
▲2▼2

Zscaler's AI security push grows, but slower 2027 growth and competition weigh

  • Slower 2027 growth and AI restructuring Zscaler's fiscal 2027 guidance points to about 17% growth, down from 25%, and the company is cutting roughly 3% of staff to focus on AI. Investors worry demand is cooling, which pushed the stock down 7.8% on the news.

    This is the main new negative force behind the stock's recent drop and explains why growth concerns persist.

  • New AI security products and strong bookings Zscaler launched Agentic SOC, a new AI-powered security tool, and reported AI-security bookings above $100 million, up 50% from the prior quarter. Record $1 million deals and more Zero Trust customers show its AI bet is gaining traction, supporting future revenue.

    This shows the company's growth engine is expanding, which could offset slower overall growth and lift the stock.

  • Sector-wide AI safety bid lifts cybersecurity stocks Warnings from AI leaders about safety risks sparked a broad rally in cybersecurity stocks, with Zscaler jumping 12% in one day. This shows that rising AI fears can drive demand for security solutions, benefiting Zscaler even if the move is partly sentiment-driven.

    It highlights a new demand catalyst from AI safety concerns that directly boosted Zscaler's shares.

  • Intensifying competition in SASE Palo Alto Networks reported 40% SASE bookings growth and $400 million in displacements, aiming to become market leader. This signals tougher competition for Zscaler's core secure networking business, which could pressure its market share and pricing.

    It is a new competitive threat that could limit Zscaler's growth and weigh on the stock.

August 2026
▲3▼1

Zscaler beats Q4, AI demand strong, but 2027 growth slows

  • Q4 earnings beat and strong guidance Zscaler reported Q4 EPS of $1.19 and revenue of $898 million, beating estimates, and issued fiscal 2027 revenue guidance above consensus. Shares jumped 11% after hours. This directly boosts the stock because it shows the company is growing faster than expected and management sees continued demand.

    This is the main new event that moved the stock and answers why it's moving now.

  • AI security demand drives record deals CEO Jay Chaudhry said AI is a big tailwind, driving demand for AI security and zero trust. Zscaler had record million-dollar-plus deals and now serves over 50% of Fortune 500 companies. This supports future revenue growth and makes the stock more attractive.

    It explains the underlying demand trend that is pushing the stock up.

  • 2027 growth expected to slow Zscaler's fiscal 2027 revenue guidance implies growth of about 17%, down from 25% in fiscal 2026. This slowdown could pressure the stock because investors may worry that the rapid growth is fading, even though the company still expects double-digit growth.

    It is a key counterweight that could limit the stock's upside and is part of the new guidance.

  • High short interest could fuel further gains Jim Cramer noted that 5.9% of Zscaler's float is short, higher than peers. After strong results, short sellers may be forced to buy back shares, pushing the price higher. This adds a potential catalyst for the stock.

    It highlights a technical factor that could amplify the stock's move after earnings.

▲3▼1

Zscaler beats Q4, AI demand strong, but 2027 growth slows

  • Q4 earnings beat and strong guidance Zscaler reported Q4 EPS of $1.19 and revenue of $898 million, beating estimates, and issued fiscal 2027 revenue guidance above consensus. Shares jumped 11% after hours. This directly boosts the stock because it shows the company is growing faster than expected and management sees continued demand.

    This is the main new event that moved the stock and answers why it's moving now.

  • AI security demand drives record deals CEO Jay Chaudhry said AI is a big tailwind, driving demand for AI security and zero trust. Zscaler had record million-dollar-plus deals and now serves over 50% of Fortune 500 companies. This supports future revenue growth and makes the stock more attractive.

    It explains the underlying demand trend that is pushing the stock up.

  • 2027 growth expected to slow Zscaler's fiscal 2027 revenue guidance implies growth of about 17%, down from 25% in fiscal 2026. This slowdown could pressure the stock because investors may worry that the rapid growth is fading, even though the company still expects double-digit growth.

    It is a key counterweight that could limit the stock's upside and is part of the new guidance.

  • High short interest could fuel further gains Jim Cramer noted that 5.9% of Zscaler's float is short, higher than peers. After strong results, short sellers may be forced to buy back shares, pushing the price higher. This adds a potential catalyst for the stock.

    It highlights a technical factor that could amplify the stock's move after earnings.

Q2 2026
▲2▼2

Zscaler's strong demand and cyber warnings offset fraud probe and competition

  • Z-Flex drives strong demand Zscaler's Z-Flex program generated over $480 million in total contract value in the third quarter, up more than 60% sequentially. This flexible purchasing model encourages customers to commit to multi-year deals and adopt more products, pushing annual recurring revenue up 25% to $3.5 billion. This strong demand supports the stock price.

    This shows a key growth driver that directly boosts Zscaler's revenue and investor confidence.

  • Cyber threat warnings lift security stocks A joint warning from U.S. and international agencies about Russian cyber threats against critical infrastructure increased demand for cybersecurity services. Zscaler shares jumped as investors bet on higher spending. The stock has returned 9.5% over the past month, though it remains down 35.7% year to date.

    This event directly caused a sharp share price move and highlights how geopolitical tensions drive demand for Zscaler's services.

  • Securities fraud investigation weighs on stock Pomerantz LLP is investigating Zscaler for possible securities fraud related to its May 26 guidance miss. The stock had already fallen 31.5% on that miss. The investigation adds legal uncertainty and could lead to fines or reputational damage, pressuring the stock price.

    This is a new negative development that could affect investor confidence and lead to financial penalties.

  • Palo Alto Networks' SASE growth intensifies competition Palo Alto Networks reported its SASE annual recurring revenue hit $1.6 billion, up 40% year over year, more than twice the market growth rate. It also recorded nearly 50 displacement wins worth $200 million. This shows strong competition taking market share, which could limit Zscaler's growth and pressure its stock.

    This highlights a major competitive threat that could slow Zscaler's revenue growth and market share gains.

June 2026
▲2▼2

Zscaler's strong demand and cyber warnings offset fraud probe and competition

  • Z-Flex drives strong demand Zscaler's Z-Flex program generated over $480 million in total contract value in the third quarter, up more than 60% sequentially. This flexible purchasing model encourages customers to commit to multi-year deals and adopt more products, pushing annual recurring revenue up 25% to $3.5 billion. This strong demand supports the stock price.

    This shows a key growth driver that directly boosts Zscaler's revenue and investor confidence.

  • Cyber threat warnings lift security stocks A joint warning from U.S. and international agencies about Russian cyber threats against critical infrastructure increased demand for cybersecurity services. Zscaler shares jumped as investors bet on higher spending. The stock has returned 9.5% over the past month, though it remains down 35.7% year to date.

    This event directly caused a sharp share price move and highlights how geopolitical tensions drive demand for Zscaler's services.

  • Securities fraud investigation weighs on stock Pomerantz LLP is investigating Zscaler for possible securities fraud related to its May 26 guidance miss. The stock had already fallen 31.5% on that miss. The investigation adds legal uncertainty and could lead to fines or reputational damage, pressuring the stock price.

    This is a new negative development that could affect investor confidence and lead to financial penalties.

  • Palo Alto Networks' SASE growth intensifies competition Palo Alto Networks reported its SASE annual recurring revenue hit $1.6 billion, up 40% year over year, more than twice the market growth rate. It also recorded nearly 50 displacement wins worth $200 million. This shows strong competition taking market share, which could limit Zscaler's growth and pressure its stock.

    This highlights a major competitive threat that could slow Zscaler's revenue growth and market share gains.

▲2▼2

Zscaler's strong demand and cyber warnings offset fraud probe and competition

  • Z-Flex drives strong demand Zscaler's Z-Flex program generated over $480 million in total contract value in the third quarter, up more than 60% sequentially. This flexible purchasing model encourages customers to commit to multi-year deals and adopt more products, pushing annual recurring revenue up 25% to $3.5 billion. This strong demand supports the stock price.

    This shows a key growth driver that directly boosts Zscaler's revenue and investor confidence.

  • Cyber threat warnings lift security stocks A joint warning from U.S. and international agencies about Russian cyber threats against critical infrastructure increased demand for cybersecurity services. Zscaler shares jumped as investors bet on higher spending. The stock has returned 9.5% over the past month, though it remains down 35.7% year to date.

    This event directly caused a sharp share price move and highlights how geopolitical tensions drive demand for Zscaler's services.

  • Securities fraud investigation weighs on stock Pomerantz LLP is investigating Zscaler for possible securities fraud related to its May 26 guidance miss. The stock had already fallen 31.5% on that miss. The investigation adds legal uncertainty and could lead to fines or reputational damage, pressuring the stock price.

    This is a new negative development that could affect investor confidence and lead to financial penalties.

  • Palo Alto Networks' SASE growth intensifies competition Palo Alto Networks reported its SASE annual recurring revenue hit $1.6 billion, up 40% year over year, more than twice the market growth rate. It also recorded nearly 50 displacement wins worth $200 million. This shows strong competition taking market share, which could limit Zscaler's growth and pressure its stock.

    This highlights a major competitive threat that could slow Zscaler's revenue growth and market share gains.

Fortinet Inc (FTNT)

Q3 2026
▲3▼1

Fortinet Q3: AI Launches, Chip Deal, Record Results; Valuation and Cisco Risks

  • Record Q2 results and strong growth Fortinet reported Q2 revenue of $2.05B, up 20-26%, with product revenue up 52% and billings up 33%. Margins hit record levels, showing robust demand for its cybersecurity products.

    This point explains the strong financial performance that drove positive sentiment and stock gains.

  • AI security platform and strategic partnerships Fortinet launched FortiSOC, an AI security platform, acquired Virtue AI, and partnered with Intel Foundry for its next-gen SP6 chip. These moves expand its technology and diversify supply.

    These strategic actions highlight innovation and supply chain improvements that support future growth.

  • Analyst upgrades and 52-week high Analysts raised price targets to $170-$215, Morgan Stanley upgraded the stock, and shares hit a 52-week high of $175.23. FortiGate also earned a 'Recommended' rating in cloud firewall testing.

    This point captures the positive market reaction and validation from analysts and testing.

  • High valuation and competitive pressures The stock trades at roughly 60x earnings and 16-18x sales, well above fair value, leaving little room for disappointment. Cisco's expanded NVIDIA alliance and strong firewall growth intensify competition.

    This point highlights the key risks that could limit upside or pressure the stock.

September 2026
▲4

Fortinet's AI Security Demand Drives Guidance Raise, Price Target Hikes

  • Fortinet Raises Full-Year 2026 Guidance on Strong Q2 Fortinet raised full-year 2026 guidance after Q2 revenue grew 26% to $2.05B and product revenue surged 52%. Billings rose 33%. This signals robust demand for its security platform, boosting investor confidence and pushing the stock up.

    This is the core positive fundamental news that directly lifts FTNT's price.

  • Analysts Raise Price Targets and Fair Value on AI Demand Analysts lifted FTNT price targets to $170-$215 and fair value to $163.13, citing strong Q2 results and AI-related demand. Morgan Stanley upgraded the stock. This validates the growth story and attracts buyers, pushing the price up.

    Analyst upgrades and target hikes directly influence investor sentiment and buying pressure.

  • Fortinet Hits 52-Week High on AI Security Platform Demand FTNT hit a 52-week high of $175.23 as demand for its unified security platform accelerated. New products like FortiSOC and FortiEndpoint with AI capabilities drove billings up 33% and product revenue up 52%, fueling the rally.

    This shows the market's positive reaction to Fortinet's AI-driven product momentum.

  • Fortinet Earns Recommended Rating in Cloud Firewall Test Fortinet's FortiGate NGFW earned a Recommended rating with 99.7%+ security effectiveness in a 2026 cloud firewall test. This independent validation strengthens its competitive position and supports pricing power, positively impacting the stock.

    Third-party validation reinforces Fortinet's technology leadership, a key driver for future sales.

Latest
▲4

Fortinet's AI Security Demand Drives Guidance Raise, Price Target Hikes

  • Fortinet Raises Full-Year 2026 Guidance on Strong Q2 Fortinet raised full-year 2026 guidance after Q2 revenue grew 26% to $2.05B and product revenue surged 52%. Billings rose 33%. This signals robust demand for its security platform, boosting investor confidence and pushing the stock up.

    This is the core positive fundamental news that directly lifts FTNT's price.

  • Analysts Raise Price Targets and Fair Value on AI Demand Analysts lifted FTNT price targets to $170-$215 and fair value to $163.13, citing strong Q2 results and AI-related demand. Morgan Stanley upgraded the stock. This validates the growth story and attracts buyers, pushing the price up.

    Analyst upgrades and target hikes directly influence investor sentiment and buying pressure.

  • Fortinet Hits 52-Week High on AI Security Platform Demand FTNT hit a 52-week high of $175.23 as demand for its unified security platform accelerated. New products like FortiSOC and FortiEndpoint with AI capabilities drove billings up 33% and product revenue up 52%, fueling the rally.

    This shows the market's positive reaction to Fortinet's AI-driven product momentum.

  • Fortinet Earns Recommended Rating in Cloud Firewall Test Fortinet's FortiGate NGFW earned a Recommended rating with 99.7%+ security effectiveness in a 2026 cloud firewall test. This independent validation strengthens its competitive position and supports pricing power, positively impacting the stock.

    Third-party validation reinforces Fortinet's technology leadership, a key driver for future sales.

August 2026
▲3▼1

Fortinet's AI-Driven Demand and Intel Deal Fuel Growth

  • Intel Foundry Partnership Diversifies Chip Supply Fortinet signed Intel Foundry as its manufacturing partner for the next-gen Security Processor 6, reducing reliance on TSMC. This secures supply and supports future product launches, which can lift revenue and investor confidence.

    New partnership directly addresses supply chain and technology, a fresh positive catalyst.

  • CFO Details Broad-Based Demand and SASE Momentum Fortinet's CFO highlighted accelerating hardware sales, 52% product revenue growth, and unified SASE growing 35% to a quarter of sales. This shows strong demand across AI infrastructure, OT, and SASE, supporting the raised outlook and stock price.

    Provides concrete demand metrics that explain the raised guidance and stock strength.

  • Virtue AI Acquisition Bolsters AI Security Fortinet acquired Virtue AI to add AI runtime protection and agentic system security. This enhances its Security for AI strategy, potentially opening new revenue streams and keeping it competitive in AI security.

    New acquisition expands technology portfolio and addresses growing AI security market.

  • Cisco-NVIDIA Alliance Intensifies Competition Cisco expanded its Secure AI Factory with NVIDIA, embedding security into AI infrastructure to counter Fortinet. Cisco's security revenue rose 14% and firewall orders grew over 30%, posing a competitive threat that could pressure Fortinet's market share.

    New competitive development that could limit Fortinet's growth and is a real counterweight.

▲3▼1

Fortinet's AI-Driven Demand and Intel Deal Fuel Growth

  • Intel Foundry Partnership Diversifies Chip Supply Fortinet signed Intel Foundry as its manufacturing partner for the next-gen Security Processor 6, reducing reliance on TSMC. This secures supply and supports future product launches, which can lift revenue and investor confidence.

    New partnership directly addresses supply chain and technology, a fresh positive catalyst.

  • CFO Details Broad-Based Demand and SASE Momentum Fortinet's CFO highlighted accelerating hardware sales, 52% product revenue growth, and unified SASE growing 35% to a quarter of sales. This shows strong demand across AI infrastructure, OT, and SASE, supporting the raised outlook and stock price.

    Provides concrete demand metrics that explain the raised guidance and stock strength.

  • Virtue AI Acquisition Bolsters AI Security Fortinet acquired Virtue AI to add AI runtime protection and agentic system security. This enhances its Security for AI strategy, potentially opening new revenue streams and keeping it competitive in AI security.

    New acquisition expands technology portfolio and addresses growing AI security market.

  • Cisco-NVIDIA Alliance Intensifies Competition Cisco expanded its Secure AI Factory with NVIDIA, embedding security into AI infrastructure to counter Fortinet. Cisco's security revenue rose 14% and firewall orders grew over 30%, posing a competitive threat that could pressure Fortinet's market share.

    New competitive development that could limit Fortinet's growth and is a real counterweight.

July 2026
▲3▼1

Fortinet surges on AI platform, strong Q2, raised outlook

  • AI security platform launch Fortinet launched FortiSOC, an AI-powered security platform, strengthening its product lineup and appeal to customers adopting AI-driven security tools.

    New product launch that could drive future demand and competitive positioning.

  • Strong Q2 results and raised guidance Q2 revenue of $2.05 billion beat estimates, with 20% growth and record margins. Fortinet raised its 2026 outlook, sending shares up over 11%.

    Directly drove the stock's sharp rise in late July.

  • Analyst upgrades and Intel partnership Barclays and BofA lifted price targets on steady firewall demand. Intel named Fortinet its first outside foundry customer for the next-gen SP6 security chip.

    Boosted investor confidence and highlighted strategic validation.

  • Valuation and demand pull-forward risks Some firewall demand may be pulled forward, and the stock trades at roughly 60x earnings and 16–18x sales, well above fair value, leaving little room for disappointment.

    Provides a balanced view of potential downside risks despite strong momentum.

▲3

Fortinet Raises Outlook on Strong Billings; New Products Boost SASE Push

  • Fortinet raises full-year revenue and profit forecast Fortinet lifted its 2026 revenue outlook to $8.02–$8.18 billion and EPS to $3.41–$3.47, after Q2 revenue of $2.05 billion and EPS of 90 cents beat estimates. Strong billings signal robust customer demand, pushing the stock up over 11%.

    This is the main new event that directly answers why FTNT is moving right now.

  • New FortiGate 1200G and FortiSASE Outpost expand product line Fortinet launched the FortiGate 1200G firewall and FortiSASE Outpost, offering faster speeds and cloud-delivered security on customer premises. This strengthens its competitive position in the growing SASE market, supporting future revenue growth.

    A new product launch that shows innovation and addresses demand for unified security platforms.

  • Fortinet gains ground in SASE against Palo Alto Networks Palo Alto Networks faces margin pressure from acquisitions, while Fortinet sees stronger adoption of its unified SASE platform. This competitive win could lead to more customers and revenue, lifting investor sentiment.

    Highlights a competitive shift that benefits Fortinet's market share and pricing power.

  • High valuation leaves little room for error Fortinet trades at about 60 times earnings and 16–18 times sales, well above a fair value estimate of $125.56. While AI security optimism is high, any disappointment could quickly pressure the stock, making it a risk to watch.

    Provides a balanced view of the risk that could reverse recent gains.

▲4

Fortinet's AI Security Push and Firewall Demand Drive Positive Momentum

  • AI-Driven FortiSOC Launch and Strong Q1 Results Fortinet launched FortiSOC, an AI-powered security operations platform, after reporting 20% revenue growth, record margins, and raised full-year guidance. This shows the company is innovating and executing well, which supports a higher stock price.

    New product and strong financials directly boost investor confidence and future earnings potential.

  • Analyst Price Target Hikes on Steady Demand Barclays and BofA raised their price targets for Fortinet, citing steady demand and no inventory issues. Higher targets from respected analysts can attract more buyers and lift the stock.

    Analyst upgrades often influence market sentiment and can drive short-term price increases.

  • Enterprise Firewall Buying Surge and Cybersecurity Spending Shift Barclays noted enterprises are aggressively buying firewalls to beat price hikes, and IBM's warning about spending shifts highlighted sustained cybersecurity demand. This benefits Fortinet as a major firewall vendor, though some demand may be pulled forward.

    Directly addresses current demand drivers for Fortinet's core products and broader sector tailwinds.

  • Intel Foundry Partnership for Next-Gen Security Chip Intel named Fortinet as its first outside foundry customer to manufacture Fortinet's next-gen SP6 security chip. This secures advanced manufacturing and validates Fortinet's technology, potentially boosting future product competitiveness.

    New strategic partnership enhances supply chain and innovation, a positive for long-term growth.

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