ZS
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Zscaler Inc. (ZS) closed at $151.47 as of 2026-03-20, trading 19.9% below its 200-week moving average of $189.17. This places ZS in the extreme value zone. The stock is currently moving closer to the line, down from -18.7% last week. With a 14-week RSI of 20, ZS is in oversold territory.
Trading volume is running at 1.4x of its 14-week average, which is in the normal range. The balance between buying and selling volume (1.18 ratio) is neutral — neither side is clearly dominating.
Over the past 370 weeks of data, ZS has crossed below its 200-week moving average 11 times. On average, these episodes lasted 10 weeks. Historically, investors who bought ZS at the start of these episodes saw an average one-year return of +80.7%.
With a market cap of $24.4 billion, ZS is a large-cap stock. The company generates a free cash flow yield of 4.2%. Return on equity stands at -3.6%. The stock trades at 11.1x book value.
Share count has increased 10.7% over three years, indicating dilution.
Over the past 7.2 years, a hypothetical investment of $100 in ZS would have grown to $250, compared to $260 for the S&P 500. ZS has returned 13.6% annualized vs 14.2% for the index, underperforming the broader market over this period.
Free cash flow has been growing at a 46.5% compound annual rate, with 4 consecutive years of positive cash generation. A business generating more cash every year while trading below its 200-week moving average is exactly the kind of disconnect value investors look for.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: ZS vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After ZS Crosses Below the Line?
Across 10 historical episodes, buying ZS when it crossed below its 200-week moving average produced an average return of +69.6% after 12 months (median +65.0%), compared to +19.5% for the S&P 500 over the same periods. 90% of those episodes were profitable after one year. After 24 months, the average return was +206.2% vs +58.8% for the index.
Each line shows $100 invested at the moment ZS crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
ZS has crossed below its 200-week MA 11 times with an average 1-year return of +80.7% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Sep 2019 | Jan 2020 | 17 | 14.7% | +170.6% | +219.0% |
| Mar 2020 | Mar 2020 | 2 | 16.6% | +255.1% | +206.7% |
| Oct 2022 | Oct 2022 | 1 | 7.7% | +24.5% | +11.9% |
| Oct 2022 | Nov 2023 | 53 | 42.3% | +35.8% | +25.2% |
| Apr 2024 | Jun 2024 | 11 | 8.5% | +9.2% | -16.5% |
| Jul 2024 | Aug 2024 | 3 | 9.9% | +57.8% | -16.5% |
| Sep 2024 | Oct 2024 | 5 | 17.0% | +74.9% | -3.4% |
| Oct 2024 | Nov 2024 | 2 | 3.5% | +74.6% | -18.1% |
| Dec 2024 | Jan 2025 | 5 | 2.2% | +24.1% | -19.2% |
| Mar 2025 | Apr 2025 | 1 | 8.0% | N/A | -13.3% |
| Feb 2026 | Ongoing | 7+ | 22.3% | Ongoing | -9.5% |
| Average | 10 | — | +80.7% | — |
Frequently Asked Questions
Is ZS below its 200-week moving average?
Yes. As of 2026-03-20, Zscaler Inc. (ZS) is trading 19.9% below its 200-week moving average of $189.17. The current price is $151.47.
What is ZS's 200-week moving average price?
Zscaler Inc.'s 200-week moving average is $189.17 as of 2026-03-20. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when ZS drops below its 200-week moving average?
ZS has crossed below its 200-week moving average 11 times in our data. On average, buying at that moment produced a one-year return of +80.7%. These dips have historically been decent entry points. These episodes lasted 10 weeks on average.
Is ZS a good value right now?
Here's what our data says about ZS as of 2026-03-20: The stock is below its 200-week moving average, which is the starting point for our analysis. The 14-week RSI is 20 (oversold). Free cash flow yield is 4.2%. Return on equity is -3.6%. Price-to-book is 11.1x. This is not a buy or sell recommendation — always do your own research.
How does ZS compare to the S&P 500?
Over the past 7.2 years, $100 invested in ZS would have grown to $250, compared to $260 for the S&P 500. That's 13.6% annualized vs 14.2% for the index. ZS has underperformed the broader market over this period.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-03-20