Oppenheimer 将 Zoom 上调至 Outperform、目标价 130 美元，盘前已涨约 3.5%

Zoom Communications ( ZM ) was in focus on Wednesday as Oppenheimer upgraded the enterprise software firm to Outperform from Perform with a $130 price target. Shares rose 4.1% in premarket trading. “We attended the Zoomtopia conference in the last two days and were impressed by the company's range of new services, as were its customers,” Oppenheimer analyst Timothy Horan wrote in a note to clients. “We are upgrading ZM from Perform to Outperform with a $130 price target as we gain confidence in its transition from video meetings to a broader AI communications and workflow platform. Zoom calls this a system of action with three parts: Conversation, Context and Completion. The latter two are enabled by its AI platform, which benefits from unique data, recursive learning, and use of a dozen different models on an easy-to-use service. Its AI platform is enjoying strong uptake, growing ARPU, and retention. Integrating communications with AI applications should deepen customer relationships and raise the growth rate to double digits, all on stable margins.” Delving deeper, Horan said the company's AI Platform has its own unique data, AI models and comes with “excellent security and governance.” It also combines meetings, productivity apps, unified communications and contact center, along with ZoomMate. “Permissioned data, embedded integrations and workflow dependence will be key to deepen customer relationships,” Horan added. In addition, the analyst noted that Zoom Phone's annual recurring revenue continues to grow in the teens on a year-over-year basis and now has more than 10M licenses. And with penetration at only 29%, there is opportunity to grow. “We see substantial room for migrations, cross-selling and greater monetization of the installed base,” Horan explained. Other positives include Zoom CX, Zoom's unified customer experience platform, and conservative long-term guidance.