ZS
Market read
ZS accounts for 8.3% of the group's measured movement across 2.6 effective names. raw member direction is mixed; 4 of 6 session-normalized paths align to the downside. Capital-flow agreement is 0%, so confirmation is not yet clean. No verified headline preceded the measured group move.
FTNT, CGNT, VIA moved materially before ZS. ZS crossed its material path threshold at 15:50 ET, 380 minutes after the first measured mover.
5 of 6 members in Software Companies are active. 0 of 3 disclosed connections are confirming.
Invalidation: The live read weakens if participation falls to 2 of 6 members or fewer.
Research brief
ZS accounts for 8.3% of the group's measured movement across 2.6 effective names. raw member direction is mixed; 4 of 6 session-normalized paths align to the downside. Capital-flow agreement is 0%, so confirmation is not yet clean. No verified headline preceded the measured group move.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Investing Activities Net cash used in investing activities during fiscal 2026 of $2,652.7 million was primarily attributable to the purchases of short-term investments of $2,254.3 million, business acquisitions, net of cash acquired, of $918.1 million, capita…”10-K · Sep 3, 2026 ↗
“As our customers expand and increase the use of our cloud platform, driven by additional users, applications, workloads, AI agents, and connected devices, our cost of revenue will increase due to higher bandwidth and data center expenses.”10-K · Sep 3, 2026 ↗
“The gains and losses related to changes in the fair value of the interest rate swap contracts are included within interest expense in the condensed consolidated statement of operations and substantially offset changes in the fair value of the hedged portion o…”10-Q · Nov 25, 2025 ↗
“Substantially all of our revenue is transacted in U.S.”10-Q · Nov 25, 2025 ↗
Valuation discipline
Price/sales 9.5× · EV/sales 9.2×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 1 Oct, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for ZS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
Jodie has not yet found a suitable current-versus-prior filing comparison for ZS. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
“Our main competitors fall into four categories: • large companies that incorporate security features in their products, such as Cisco Systems, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 4 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
ZS is currently a Early Follower in the organic co-movement group Software Companies. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.