As of Q2'26 (2026-01-31), ZS's Price-to-Sales (P/S) Ratio has surged to 39.15, marking a significant increase from the previous quarter's value of 16.31. This latest data point represents the highest P/S Ratio observed in the covered period. From Q3'23 to Q2'26, the P/S Ratio has exhibited notable volatility, with values generally fluctuating between 11.73 and 16.98 before the sharp spike in the most recent quarter. The abrupt rise in Q2'26 suggests a substantial change in market sentiment or company fundamentals, following a period of relative stability and moderate fluctuations. This trend highlights a potential re-rating of ZS by the market, warranting further investigation into the underlying drivers of this dramatic increase.