Zoom Communications Moves Beyond Video Meetings to Broader AI Platform, Oppenheimer Says

12:42 PM EDT, 10/21/2026 (MT Newswires) -- Zoom Communications (ZM) is gaining momentum as it shifts from video meetings to a broader artificial intelligence-powered communications and workflow platform, Oppenheimer said in a note Wednesday. The company's AI platform combines conversation, context, and completion, using unique data and multiple AI models, the analysts said, adding that strong adoption is driving higher revenue per user and customer retention. The analysts said Zoom expects revenue growth to improve from 4% currently to 6% to 8% by fiscal 2030, supported by double-digit enterprise growth. The company also anticipates maintaining operating margins of around 40% and gross margins of around 80%, helped by falling AI token costs. The analysts said they now expect 2030 revenue to reach $6.06 billion, up 3.3%. "We see its AI platform supporting stronger growth, in a duopoly market," they added. Oppenheimer upgraded Zoom Communications from perform to outperform with a $130 price target. Price: 100.14, Change: +2.68, Percent Change: +2.74