UPDATE: Needham & Company Starts Zoom Video (ZM) at Hold
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(Updated - June 21, 2021 4:18 PM EDT)
Needham & Company analyst Ryan Koontz initiates coverage on Zoom Video (NASDAQ: ZM) with a Hold rating.
The analyst commented, "We initiate coverage of ZM with a Hold Rating. While the company issued an impressive F1Q22 report with 191% y/y revenue growth and better than expected GM, we look for continued traction with Phone, particularly in enterprise, evidence of stable churn in small business, further success in the channel and/or more clarity on the monetization timing for Zapps and Zoom Events before gaining more conviction on the stock at its current valuation."
Shares of Zoom Video closed at $374.24 yesterday.
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