On May 22, Zoom rose 8.21% in pre-market trading, trading at $104.32/share, with trading volume of $184,500. The surge was driven by the release of its fiscal year 2027 first-quarter earnings report, which significantly exceeded market expectations across key metrics.

Zoom reported adjusted earnings per share of $1.55, beating the analyst consensus estimate of $1.42 by 9.15%. Revenue came in at $1.239 billion, surpassing the expected $1.223 billion. Notably, the company's AI user count tripled year-over-year, signaling a structural transformation in its business model. Zoom also raised its full-year guidance, projecting non-GAAP diluted EPS of $5.96 to $6.00 and revenue of $5.08 billion to $5.09 billion, both above prior targets. Additionally, the company approved a new stock buyback program, reinforcing confidence in its capital return strategy.

On the institutional side, Citi recently raised its price target on Zoom from $106 to $122 while maintaining a buy rating, reflecting positive sentiment toward the company's AI-driven commercial growth prospects.

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