Zoom (ZM), Salesforce (CRM), Workday (WDAY), Docusign (DOCU), and Guidewire (GWRE) were in focus on Wednesday as investment firm BTIG weighed in on the five companies ahead of their respective quarterly results.
For Zoom, analyst Allan Verkhovski said one of the company’s partners was “well ahead” of its plan to increase momentum with Custom AI Companion and Contact Center. “In addition to ZM now selling AI Companion as a standalone SKU to Basic users, which we view positively, we got the sense that ZM could also start monetizing AI Companion as a separate add-on to Workplace customers,” Verkhovski wrote. “We believe ZM can guide FY27 CC total revenue to at least $5.05B (+3.7% Y/Y), ahead of consensus at $5.03B (+3.6% Y/Y) on a reported basis.”
Verkhovski also said that Zoom’s stake in Anthropic (ANTHRO) is now worth an estimated $1.2B.
With regards to Salesforce, Verkhovski said there is “incremental traction” with Agentforce, but it may be coming at the expense of the company’s core business.
“Consumption-based pricing with Agentforce remains a significant hurdle for enterprises,” he explained. “Current implementation is heavily skewed toward ‘Agent Assist’ models while fully autonomous agents are lagging due to enterprise fears regarding data privacy and the lack of established guardrails for third-party write-access to legacy systems.”
Verkhovski has a Buy rating on Salesforce, but lowered his price target to $260 from $335.
For Workday, the firm said the return of Aneel Bhusri as CEO is a positive, but it could result in increased investments in artificial intelligence.
“Q4 results are expected to be in-line with previously provided guidance per the company’s recent 8-K, but we believe that WDAY can reiterate its FY27 subscription revenue growth guidance of 13%,” Verkhovski added. “We continue to like WDAY for its AI defensibility and attractive GARP valuation.”
Regarding Guidewire, Verkhovski said conversations with investors have been “largely constructive,” as AI could help sit on top of Guidewire’s core business, not hurt it. He kept his Buy rating on the stock, but lowered his price target to $175 from $225.
As it pertains to Docusign, Verkhovski said he agreed with Docusign CEO Allan Thygesen’s take that frontier models will impact the “agreement management” workflow model, calling them messy and regulated.
“We believe DOCU will deliver a strong Q4 billings quarter driven by IAM that will boost our conviction in DOCU’s ability to return to double-digit revenue growth,” Verkhovski added. “We also believe DOCU can guide FY27 subscription revenue above consensus at $3.35B (+6.6% Y/Y). We lower our PT to $70 (13x CY27E EV/FCF) due to peer multiple contraction.”