would a transport squad with 3-4 transports with whatever upgrades + a few z-95s or other cheap ships work?

Would a transport what? o__o

Transports, as far as we know, are 30 points each and Z-95 basics are 12 each.

I assume you are asking if a squad of several transports mixed with Z-95s would work.

Considering how little has been revealed about either ship, I'm going to go with "who knows"