UPDATE: Zoom Video (ZM) PT Lowered to $400 at BTIG

November 23, 2021 5:42 AM EST
Get Alerts ZM Hot Sheet
Price: $185.84 +1.04%

Rating Summary:
    16 Buy, 15 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 13 | New: 72
Trade Now! 
Join SI Premium – FREE
(Updated - November 23, 2021 5:43 AM EST)

BTIG analyst Matthew VanVliet lowered the price target on Zoom Video (NASDAQ: ZM) to $400.00 (from $460.00) while maintaining a Buy rating.

The analyst comments "On Monday,November 22, after the close, Zoom reported F3Q22 results for the October-end quarter that again exceeded expectations for growth across all segments, especially enterprise customers where total >$100k revenue customers grew 94% y/y to 2,507 (vs. our est. 2,460, +91%), 30% y/y growth in the US (our est. +23%), and total RPO growth of 51%. The company raised its FY22 outlook to include 54% revenue growth, ~63% growth in adj. operating income, and 46% EPS growth y/y. Overall, the quarter highlighted the strong end-market demand for the Zoom suite of solutions and expectations for sustained growth globally, and we reiterate our Buy rating but reduce our PT to $400 (from $460) to better reflect current market sentiment and group multiple compression."

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities