Zoom Video (ZM) PT Raised to $107 at Piper Sandler
Piper Sandler analyst James Fish raised the price target on Zoom Video (NASDAQ: ZM) to $107.00 (from $91.00) while maintaining a Neutral rating.
The analyst commented: "Slight Normalized Acceleration in Pivot to "System of Action"; FQ1 results largely came in as expected, with Zoom continuing to show modest acceleration across RPO and revenue while maintaining operational efficiency and emphasizing Zoom's relevancy via AI-solutions with a shift towards a "system of action" company. Zoom is benefitting from vendor consolidation, longer duration contracts, crosssell, Online price increases, and FX (with CC growth of 4.6% vs. 4.8% LQ, though this included 0.5% of the white-label headwind). Buyside's #1 thesis point though is focused on its Anthropic stake rather than the fundamental drivers. Our view is unchanged following the quarter - Zoom needs to think about leveraging its cash-position to find ways to reaccelerate growth and expand the portfolio to other adjacent markets beyond Phone, CX, Workvivo, and AIC monetization. Reit. Neutral, PT to $107."