Zscaler (NASDAQ: ZS) Stock Rating: Accumulate After Q4 FY7/26 Earnings
Zscaler posted 25% Q4 revenue growth to $898.2 million and a 24.3% operating margin, but guided FY27 growth down to 16.6%-17.5% as free cash flow fell.
Monday, September 28, 2026
Back to today 
From X
Myles on X
Have gone long a chunk of this. Probably also going long some $XSHQ, down 8% from the highs. https://t.co/M9S08ooUrg https://t.co/lWfXSlTVuh
John_Hempton on X
@stubmt I lost 0.02 percent on $AMC today. Position is tiny.
Calvin Blissett on X
@bull_moose26 @ConsensusGurus I'm saying to the GSEs, if there isn't differentiated pricing grid they don't need to use $FICO to sell $10m worth of loans to save say $300k due to pricing grids, its just parity now. No large incentive from that angle
Barbarian Capital on X
Burford Capital to gain up to $1.4 bn from Apple patent defeat $BUR https://t.co/FijYGEP3fo
Barbarian Capital on X
Northern Star Rejects $27 Billion Takeover Proposal From Gold Fields $GFI https://t.co/loTzZWh7IZ
Barbarian Capital on X
AAR to Pay $1.8 Billion for Stake in Aircraft-Maintenance Company $AIR https://t.co/y3DZLQRhaO
Barbarian Capital on X
Vail Resorts Loss Widens After a Year of Tough Weather $MTN https://t.co/8UH8LNPKDb
Investor Letters
All letters- Asset Value Investors Ltd August 2026 MSLOF $16B
- PenderFund Capital Management Ltd. August 2026 TGMPF $183MVHI $336M
- Forager Funds Management August 2026 BVSFF $1.4BEMCHF $66M
- Guinness Global Investors August AFL $56BDBOEY $58B
- Protean Funds August 2026 BVNKF $2.5BSUSRF $262M
- Janus Henderson Investors July 2026 NXT $12BTKOMY $98B
- Pendelhaven Asset Management B.V. July 2026 DR0 $438MALM $3.8B
- Asset Value Investors Ltd July 2026 079940 $399MUNVGY $26B
Quick Value #332 - Gentherm (THRM)
Gentherm’s Oct. 1 Reverse Morris Trust with Modine adds commercial and off-highway operations, leaving THRM at 7.4x pro forma EBITDA with…
On’s Premium Playbook
On Holdings targets premium growth through 2029, using LightSpray soccer cleats and higher pricing, with ASPs rising from $145 to $170…
The Monday Morning Briefing: Micron and Nike Earnings on Deck
Micron and Nike earnings headline a weekly briefing featuring Exor’s NAV discount, Meta’s Muse agent and Bellway’s UK housing valuation.
Campbell's: Profit Continues To Fall, But The Stock Is Becoming Interesting
Campbell’s $500 million savings program and Rao’s growth could lift EBIT despite weak FY2027 guidance, while volume declines and inflation…
Investor Overview 
An open letter to Senator Elizabeth Warren
NAIC oversight missed Delaware Life’s $13.34 billion affiliated-bond exposure and permits capital treatment that props up Brighthouse’s…
One Hour Analysis: What would it take to break $BPRE's NAV?
BPRE trades 45% below NAV as Saba and Bulldog press for buybacks or a manager change, challenging Bluerock’s incentive to preserve…
Greenland Energy Company: A Speculative Play On The Monetization Of Greenland
Greenland Energy Company holds 2.1 million acres in the Jameson Land Basin, but drilling permits, political risk and warrant dilution cloud…
Ron Ferrie 
Hindsight Capital
Hindsight Capital tests crisis-era investment decisions using anonymized company financials, including TransDigm, Halma and Texas Pacific…
Neighborhood Intelligence Is Starting To Look Like A Mess
Neighborhood Intelligence, NXH, faces a cash shortfall after failed and restructured acquisitions, as losses and limited financing options…
New Buy : Honeywell Aerospace $HONA
Honeywell Aerospace, newly spun off as HONA, fell 41% from post-listing highs after Q2 2026 as supply-chain bottlenecks delayed revenue…
WDAY · long Workday INC
Workday shares have declined since February 2024 as the market has turned against SaaS stocks.
Grab Q2'2026 Business Update - Preparing for AV
Grab reported 54 million monthly transacting users, up 16.7%, and $168 million of adjusted EBITDA, while autonomous driving threatens its…
Trading Post August 5, 2026 - One Buy, One Sale, One Reason
Flutter cut forecasts after U.S. gambling EBITDA fell 70% to $119 million, with prediction markets pressuring FanDuel as leverage rises to…
Coupang: 2Q26 Business Recap
Coupang’s product-commerce revenue rose 8% in constant currency as data-leak churn lingered, while promotions and underused logistics…
Coupang 2Q26 Recap: Data Scandal Lingers on Growth
Coupang’s data leak held 2Q26 constant-currency product-commerce growth to 8%, while promotions and excess logistics capacity pressured…
Perimeter Solutions: 2Q26 Business Recap
Perimeter Solutions’ 2Q26 revenue rose 31%, while operating income fell 11% as USDA pricing and DLA delivery timing hurt Fire Safety; it…
Portfolio Update July 2026
Portfolio update trimmed Greggs and Roper Technologies after earnings, with Roper raising guidance and Greggs reporting 7.2% revenue growth…
Deep Dive: Equifax ($EFX)
Equifax’s Workforce Solutions generated $2.58B in 2025 at more than 50% EBITDA margins, anchored by Work Number.
Genius Sports (GENI)
Genius Sports’ $1.2 billion Legend acquisition adds direct bettor monetization, while its exclusive NFL data rights could supply prediction…
💥Eyes on Earnings💥
Leslie’s Inc. has faced a string of recent problems in its pool business.
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A Capital
Adam D. Wyden
AltayCap
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BDC
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Broken Moats
BuccoCapital Bloke
Calvin Blissett
catechwilliams
Charles Frischer
Chris Camillo
Clark Square Capital
Cluseau Investments
Colin King
Connor Haley
Conor Maguire | Value Situations
Convequity
David Orr
Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
Evan Tindell
Farmer
Fierce_beast
Fred Liu
Gavin Baker
Ian Bezek
Idea Brunch
JabroniCoin.USD
John_Hempton
junkbondinvestor
kab60
KEDM.com
Laughing Water Capital
Lee Roach
Little Owl Research
Maius
Maj Soueidan
marginofdanger
mavix
Mike
Mikro Kap David
Multiples Capital
Myles
Nat Stewart
Negligible Capital
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Odd Lot Arbitrageur
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Prepared Remarks
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RiverRoadPartners
Rusholme Capital
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SG
Sheel Mohnot
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Timyan Bank Alert
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ToffCap
Trevor Scott
Voss Capital
Yaron Naymark
Investor letters we follow
- 1 Main Capital
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- Akre Capital Management, LLC
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- Alpinum Investment Management AG
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- Crossroads Capital, LLC
- Curreen Capital
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- Dodge & Cox Stock Fund
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- FPA Crescent Fund
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- Fred Alger Management, LLC
- Gabelli Funds
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- Lindsell Train Limited
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- Miller Value Partners
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- Oldfield Partners
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- Palm Valley Capital
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- Pendelhaven Asset Management B.V.
- PenderFund Capital Management Ltd.
- Pershing Square Holdings
- Pittenger & Anderson
- Polaris Capital Management
- Polen Capital 5Perspectives Growth Opportunities
- Polen Capital U.S. Opportunistic High Yield
- Praetorian Capital
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- QuantStreet Capital
- Quercus Fund
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- Regency Wealth Management
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- Vision Capital Fund
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- Vulcan Value Partners
- Warden Capital
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- Wedgewood Partners
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- White Falcon Capital Management
Sectors
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