$PANW vs $ZS: Palo Alto Networks Maintains an Edge Over Zscaler PANW has delivered markedly stronger relative performance, while ZS has lagged despite solid fundamentals. Both companies are riding the same cybersecurity demand tailwind, but Palo Alto Networks

$PANW vs $ZS: Palo Alto Networks Maintains an Edge Over Zscaler PANW has delivered markedly stronger relative performance, while ZS has lagged despite solid fundamentals. Both companies are riding the same cybersecurity demand tailwind, but Palo Alto Networks is scaling faster through acquisitions and platform consolidation. Zscaler trades at a lower valuation multiple than PANW, reflecting a decelerating growth outlook for fiscal 2027.