Oppenheimer upgraded Zoom Communications to Outperform from Perform and set a $130 price target after the company’s recent Zoomtopia conference. Zoom showcased its expanding AI-powered communications and workflow platform at the event.
Oppenheimer analysts cited greater confidence in Zoom’s shift from a video meeting application to a broader platform, highlighting AI features for conversation, context, and completion. They said strong uptake of Zoom’s AI platform could increase average revenue per user (ARPU), improve customer retention, and potentially drive double-digit growth.
BTIG Research also reaffirmed its Buy rating and $125 price target on the same day.