Zoom Up 3% as Morgan Stanleys Think It’s Building a Durable Platform

Investing.com2021-08-26

Zoom stock (NASDAQ:ZM) rose 3% in Thursday’s trading on an upgrade by Morgan Stanley (NYSE:MS) which said the global video conferencing service is building a durable platform for growth.

Analyst Meta Marshall upgraded the stock to overweight from equal-weight and the price target to $400 from $360. The new target is about 16% higher from the stock’s current price of $346.

Marshall attributed the revised target to her view that the company has the potential to surprise on the upside over the next year.

According to the analyst, while revenue expectations are not low, they believe they are doable, which combined with FY23 guidance in a couple of quarters, gives more room for optimism on the stock at the current valuation.

A revenue beat of 5% or greater would cause a positive reaction in the stock, she said.

Marshall sees multiple drivers at the company including its international business, up market penetration and Phone, it's internet phone service.

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  • Lkl8
    2021-08-27
    Lkl8
    Nice 
  • SSVC
    2021-08-27
    SSVC
    Yes Appreciate your comments and response Thanks 
  • hellodarz888
    2021-08-27
    hellodarz888
    Interesting!
  • Chitz
    2021-08-27
    Chitz
    Like & comment
  • Barbarazhao
    2021-08-27
    Barbarazhao
    Great news indeed 
  • PeterLim007
    2021-08-27
    PeterLim007
    Please give a like. Thank you. 🙏
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