Zoom Video Communications ZM recently held its annual event Zoomtopia on Nov 7 & 8, where it revealed that it had partnered with two big companies to add its service to them.

The first partnership announced was with Tesla to bring its video conferencing platforms to the company’s cars. Although further details on how the video conferencing platform will work with Tesla vehicles haven’t been disclosed, it is widely reported that the app will likely use the in-cabin camera above the rear-view mirror.

Next, Zoom partnered with AMC theatres to bring Zoom Rooms to selected AMC locations across 17 cities in the United States. Zoom Rooms at AMC will allow organizations to bring people from different markets together for virtual and in-person events.

All users will be given a three-hour time slot to host their event with the necessary equipment provided by AMC and Zoom.

New Features Revealed in Zoomtopia Also Aid the Company’s Growth

Along with partnerships, Zoomtopia also revealed some enhancements Zoom made to its existing services and some new features that they will soon launch.

The company has added hosted and third-party email and calendar services directly into the Zoom app, which will let users access their email and calendar without having to leave Zoom as it will be integrated into the Zoom meeting application.

Users can now quickly access their communications and scheduling and complete their work more efficiently.

Zoom Video Communications, Inc. Price and Consensus

Zoom Video Communications, Inc. price-consensus-chart | Zoom Video Communications, Inc. Quote

Zoom launched a virtual co-working space called Zoom Spots, which is a video-enabled persistent space integrated within the Zoom platform to help foster engaging discussions to keep colleagues connected. This feature will be available from early 2023.

Zoom also unveiled Virtual Agent, an intelligent, conversational AI and chatbot solution that works on multiple support channels and uses natural language processing and machine learning to understand and quickly resolve customers’ issues in a contact center setting.

The feature can either be fully integrated with Zoom Contact Center or be offered as a standalone chatbot.

Zoom One is bolstering its capabilities as well. It has created a new integration between Team Chat and In-Meeting Chat, creating an “always-on” functionality so that users can flow between Team Chat and Meetings to continue the conversation after meetings.

These newly designed features are expected to drive efficiency and cost savings within organizations and gain traction with both their employees and their customers.

What Awaits Zoom in the Near Future?

Zoom has been making efforts to enhance features for users for quite some time now. But what serves as a major headwind to this Zacks Rank #3 (Hold) company is the strengthening of the U.S. dollar and the macroeconomic conditions, which have impacted new online sales. Zoom expects the online business to decline 7-8% year over year for fiscal 2023.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


For the third quarter of 2023, revenues are anticipated to be in the range of $1.095-$1.1 billion, flat compared to the previous quarter.


Zoom’s share fell 55.3% year to date against the Zacks Computer & Technology Sector, which declined 37.9% in the same time frame.

Besides this, Zoom also faces stiff competition from Microsoft MSFT, Alphabet GOOGL and Cisco CSCO.

Microsoft’s shares fell 27.7% year to date. Microsoft Teams now allow users to create a short video clip in chat. The recipient of the video clip can reply with a message or a video clip of their own.

Alphabet declined 35.1% year to date. It has started to roll out an update that allows users to schedule and join meetings, add virtual backgrounds, in-meeting chat and more, apart from the existing video calling features.

Cisco’s shares have lost 27.9% year to date. It released Webex Calling features in the Webex Suite to improve work flexibility, reliability and audio quality.

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