- Goldman Sachs analyst Kash Rangan initiated coverage on Zoom Video Communications Inc ZM with a Neutral and $200 price target, implying a 3% upside.
- Rangan launched coverage on the communication and collaboration segment with a positive sector view.
- The 2020 cloud total addressable market of $19 billion implies a cloud penetration at 7% in 2020, likely to increase to 29% in 2025.
- Zoom is one of the few software companies to succeed in both enterprise and consumer markets, but now facing challenging compares.
- Price Action: ZM shares traded higher by 6.25% at $193.81 on the last check Friday.
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