10 Best Growth Stocks to Buy According to Billionaires

8. Zscaler Inc. (NASDAQ:ZS)

Rev. Growth Current Year/ Next Year: 23% / 20%

Number of Billionaire Investors: 11

Number of Hedge Fund Holders: 46

Zscaler Inc. (NASDAQ:ZS) is one of the 10 best growth stocks to buy according to billionaires. On June 9, Bank of America analyst Tal Liani raised his price target on Zscaler to $340 from $285, while maintaining a Buy rating, following the company’s CEO, Jay Chaudhry’s, presentation at the Bank of America’s 2025 Global Technology Conference (GTC). The analyst highlighted sustained customer demand and increasing platform adoption as key factors contributing to the higher valuation.

On June 5, management highlighted several positive trends during the GTC event. In the last quarter, over 70% of new annual contract value (ACV) came from upselling to existing clients, while new logo ACV grew 40% year-over-year. Zscaler Inc. (NASDAQ:ZS) is expanding its reach beyond core secure web gateway services, with strong traction in data security and Agentic operations now representing nearly $1 billion in annual recurring revenue (ARR). Notably, data security alone accounted for $350 million in ARR last quarter.

Its recent acquisition of Airgap Networks highlights a deeper investment in cybersecurity advancements. While competition and pricing pressure remain, Zscaler’s product differentiation and focus on efficiency appear to be supporting its growth outlook.

In Liani’s view, rising demand for Zero Trust solutions justifies a higher multiple, primarily as Zscaler executes well on both innovation and customer expansion.

Zscaler Inc. (NASDAQ:ZS) is a provider of cloud-based cybersecurity solutions. Its Zero Trust architecture ensures secure connections between users, devices, and applications, regardless of location.