Wolfe Research Sees Upside for Zoom Video (ZM) After Churn Disclosure at Analyst Day

Wolfe Research analyst Alex Zukin reiterated an Outperform rating and $375.00 price target on Zoom Video (NASDAQ: ZM) after the company's analyst day highlighted that churn for 13+ month customers stayed relatively consistent with historical trends. That said, shorter duration customers saw a significant increase in churn in the most recent quarter. In addition, in 2Q less than 25% of ARR was driven by user cohorts with the highest churn potential (those less than 6 months).

The analyst stated "We believe improving enterprise retention plus more durable SMB cohorts that are showing improving characteristics and survivorship rates create the potential for upside to consensus estimates, in-line with our upside scenario."

For an analyst ratings summary and ratings history on Zoom Video click here. For more ratings news on Zoom Video click here.

Shares of Zoom Video closed at $290.18 yesterday.

You May Also Be Interested In

• Golar LNG Ltd. (GLNG) PT Raised to $70 at BTIG
• STAAR Surgical (STAA) PT Lowered to $28 at Jefferies
• Resideo Technologies (REZI) PT Lowered to $27 at Oppenheimer