10:55 AM EDT, 09/03/2025 (MT Newswires) -- Zscaler ( ZS ) fiscal Q4 beat and better-than-expected fiscal 2026 guidance was driven by momentum in new products across AI, data, and Zero Trust Everywhere, Oppenheimer said in a Wednesday research report.

These product lines are reaching "meaningful scale," driving a considerable portion of annual recurring revenue, and growing faster than the overall business, the analysts said.

Momentum across these segments, along with robust customer uptake of Z-Flex pricing, creates additional opportunities to cross-sell to current clients and secure bigger deals, the note said.

The company's "solid finish" to fiscal 2025 and go-to-market transformation sets the stage for its next leg of growth, the analysts said, adding they "expect solid execution moving forward."

Oppenheimer reiterated its outperform rating on the stock with a price target of $345 per share.

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