- JPMorgan analyst Sterling Auty upgraded Zoom Video Communications Inc ZM to Overweight from Neutral with an unchanged price target of $385, implying a 40.1% upside.
- The stock has fallen over 33% since December 9, 2020, as investors have factored in the growth slowdown post the pandemic tailwinds, Auty notes.
- He believes Zoom's growth will bottom in Q4 and that the market has priced that into the current stock price, creating a "more attractive" risk/reward profile.
- Auty expects Zoom to be the "other big winner" in the enterprise unified communications as a service market and Microsoft Corp MSFT Microsoft Teams.
- Price Action: ZM shares traded higher by 2.99% at $283 in the premarket session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
