ZM
Zoom Communications, Inc.

Zoom Communications, Inc.ZM

Technology · Software - Application
97.40USD
-0.65%
Oct 28, 2026
ZM overview ready
Zoom’s AI-Mediated Collaboration Extends Workflows Across Enterprise Applications
Zoom is a direct software-platform participant: it is extending its meetings, phone, messaging, contact-center, and collaboration footprint into an AI-mediated work surface that can retrieve enterprise information and automate follow-through across connected applications.
Narrative is still early
Exposed to the Enterprise Agentic AI Adoption narrative through AI-Enabled Work Orchestration and Collaboration Platforms — enabling supplier.
Advancing price action
Longer-term context reads early trend, with a near-term setup of daily advance.
Fair valuation
The price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Intense competition from large technology companies.
Market Oct 27Filing Jul 31Price action Aug 9Research Jul 29

Conviction Level

CompanyFit6.0PriceAction8.6Valuation5.9CompanyPosition9.3BusinessQuality8.3

Conviction uses Company Fit, Price Action, Valuation, Business Quality. Company Position is research context, not an input.

Theme leadershipGroup context · not a Conviction input
vs SPY
+25.4pp
Theme return
+26.0%
Beating SPY
6 of 6
21 sessions to Oct 27, 2026 · ranked 1 of 59 themes
Price
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Price Action

Advancing price action
Longer-term context reads early trend, with a near-term setup of daily advance.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$29.2B
Avg Volume (60D)
2.8M
60 sessions
Revenue Growth YoY
+4.4%
FY2026 vs FY2025
Gross Margin
+77.3%
Trailing twelve months
Operating Margin
+23.7%
Trailing twelve months
Free Cash Flow Yield
+6.6%
P/E
9.0x
Market metrics as of Oct 27, 2026
Financial results for the period ended Jul 31, 2026
Filed balance-sheet data as of Jul 31, 2026

Fundamentals & Valuation

Both valuation perspectives agree this company is fair.
Zoom Communications, Inc. has a Fair valuation stance because the price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.

Company Research

Thesis
Zoom is a direct software-platform participant: it is extending its meetings, phone, messaging, contact-center, and collaboration footprint into an AI-mediated work surface that can retrieve enterprise information and automate follow-through across connected applications.
Opportunity
Moderate opportunity
Enterprise spending on AI agents that use conversational and business-system context to retrieve knowledge, create work products, and execute multi-step workflows across collaboration applications and systems of record.
Key risk
Intense competition from large technology companies.

Economic classification

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Business & Markets

Technology · Software - Application
What they do

Zoom Communications provides a cloud-based platform that enables video conferencing, voice calls, messaging, and collaborative work tools across multiple devices globally.

How it earns

The company primarily generates revenue through subscription-based services.

Products & services
Zoom Meetings
Zoom Phone
Zoom Team Chat
Zoom Docs
Zoom Whiteboard
Customers & end markets
Enterprises
Small and medium businesses
Individual users
Market position

Leader in the video communications and unified communications market.

Demand drivers
Low cyclicality

Demand for remote communication tools is relatively stable and driven by structural shifts in work practices rather than economic cycles.