Cantor Fitzgerald analyst Thomas Blakey reiterated a Neutral rating and $104.00 price target on Zoom Video (NASDAQ: ZM).

The analyst commented, "Checks indicated demand remained stable in F2Q and cite product expansion and increased partnerled sales motions, along with nascent AI-driven usage and monetization, as positives during the quarter. We view continued strength in Enterprise and possibly sustained M-HSD% growth despite 120bps more difficult compares in F2Q27 and DD% RPO growth (10.1% F4Q26, 10.9% F1Q27, with relatively easy F2Q compare) as likely needed for ZM shares given recent multiple expansion into the F2Q27 print. Enterprise NER expanded one point to 99% in F1Q27 as well, where we believe investors may also want to see a continuation of expanding trends here, provided platform-expansion sales motions as well as early signs of AI monetization. While this is a relatively good setup for reported results/guide, we note the relative rising bar for shares across KPIs directionally, and multiple expansion in ZM shares in recent months, possibly tied to the company’s strategic investment in Anthropic, keep us Neutral-rated on ZM shares and reiterate our $104 PT."

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Shares of Zoom Video closed at $107.43 yesterday.