ZS · PEAD ↓ 15

Zscaler reported Q4 FY2026 EPS of $0.14 on 2026-09-03, beating the $0.06 consensus by $0.08 (+133.3%).

Print-day reaction was +2.9% versus the prior close, an initial positive read on the substantial EPS beat. The overnight gap told a different story: the stock opened -6.6% below the T+0 close, erasing the print-day gain and then some. Over days 1–3 the drift continued lower by a further -2.2%, with no meaningful recovery — the gap fade persisted through the window. Cumulative abnormal return of -3.5% versus SPY.US puts this in PEAD short territory; the drift reverses the initial reaction, and the documented pattern holding window runs through 2026-12-01.