
Citigroup upgrades Zoom Communications ZM.O to "buy" from "neutral"
Raises PT to $106 from $94, a 22.2% upside to stock's last close
Sees "clearer" growth catalyst which can drive more than 5% of sustainable top-line growth
Adds this is due to multi-product growth drivers coming from Zoom Contact Center (ZCC) and improved AI monetization via Custom AI Companion
Says ZM is well positioned for AI in software with its differentiated video/bandwidth infrastructure
15 of 31 brokerages recommend "buy" or higher, 14 "hold" and 2 "sell"; median PT is $94.5 - data compiled by LSEG
ZM rose 5.7% in 2025