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Citigroup upgrades Zoom Communications to 'buy'

ReutersJan 13, 2026 1:16 PM

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

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