Stephens analyst Dmitry Netis initiated coverage with a Buy rating on Zoom Video Communications Inc Class A (ZM) today and set a price target of $115. The company’s shares opened today at $92.90.
Netis wrote:
“We are initiating coverage of ZM with an Overweight/Vol. rating ($115 PT). We believe Zoom’s modern approach to video—which falls under the “third wave” of UCC transformation theme—is driving a fundamental change in the user consumption model. We further believe that continued share gains in the video/web collaboration market, new product launches (Zoom Phone/Zoom Rooms), growing penetration within enterprises, and international expansion provides a long runway for growth. Our proprietary sizing of key revenue opportunities yields an estimate of $2.9 billion in revenue by 2023 (55% five-year CAGR), of which, we estimate Phone would contribute a $1 billion in revenue on a combined basis. We expect Zoom to grow into its premium valuation as it becomes the global standard for enterprises.”
According to TipRanks.com, Netis is ranked #202 out of 5238 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for Zoom Video Communications Inc Class A with a $88.67 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $107.34 and a one-year low of $36. Currently, Zoom Video Communications Inc Class A has an average volume of 3.36M.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Zoom Video Communications, Inc. engages in the provision of video-first communications platform. It connects people through frictionless video, voice, chat and content sharing, and enable face-to-face video experiences for thousands of people in a single meeting across disparate devices and locations.
