Citigroup upgrades Zoom Communications to 'buy'

Zoom Communications

13/01/2026 13:16

** 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

(Reporting by Arnav Mishra in Bengaluru)

((Arnav.Mishra@thomsonreuters.com;))