Zoom Video Communications Inc. (ZM) saw its stock price soar 12.99% during intraday trading on Friday, marking a significant upward movement for the video conferencing leader.

The surge was driven by the company's release of its fiscal first-quarter 2027 financial results, which exceeded analyst expectations. Zoom reported adjusted earnings per share of $1.55, beating the consensus estimate, while revenue of $1.24 billion also came in above forecasts. A key driver highlighted was explosive growth in its artificial intelligence offerings, with paid users for its AI Companion assistant surging significantly year-over-year.

Furthermore, the company raised its full-year revenue and profit guidance, signaling confidence in its ongoing business transformation and AI monetization strategy. This positive fundamental news triggered a wave of analyst actions, with several firms raising their price targets on the stock.