UPDATE: Wolfe Research Assumes Zoom Video (ZM) at Outperform
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Wolfe Research analyst Alex Zukin assumes coverage on Zoom Video (NASDAQ: ZM) with a Outperform rating and a price target of $390.00.
The analyst comments "Quarterly beats, annual raises, and the ability to grow off tough comps through FY22/CY21 and beyond are going to be what is required for Zoom’s stock to work from current levels. We see multiple major product catalysts (Zoom Phone, Rooms and Webinars) as well as meaningful enterprise penetration and international expansion driving our upside to +61% Y/Y growth in FY22 (vs. guidance ~42% Y/Y)."
Shares of Zoom Video closed at $322.76 yesterday.
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