Movement Alert｜Zscaler Rises 6.31% in Regular Trading, Guggenheim Upgrades to Buy Rating Driving Continued Rebound

Market Focus06-01

On June 1, Zscaler rose 6.31% in regular trading, trading at $153.85/share, with trading volume of $478 million. The rally was directly catalyzed by Guggenheim upgrading Zscaler from Neutral to Buy with a price target of $214.

The upgrade comes after Zscaler suffered a historic single-day plunge of over 31% following its fiscal Q3 earnings release. While Q3 results beat expectations with adjusted EPS of $1.08 versus the $1.01 consensus and revenue of $850 million above the $836 million estimate, Q4 revenue guidance of $875-$878 million fell short of the $879 million Street expectation. Executive departures disclosed in an 8-K filing compounded selling pressure. Morgan Stanley noted the stock remains in a penalty box until new sales leadership is filled, while Stifel described the quarter as messy, citing FY2027 growth deceleration concerns.

Guggenheim's contrarian upgrade signals confidence in Zscaler's long-term positioning in zero trust and AI security. The broader Systems Software sector also provided support, with ServiceNow up 9.21%, NEBIUS up 12.94%, Oracle up 3.17%, and Microsoft up 2.7%, reinforcing the recovery momentum for oversold names.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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