Zoom Video (ZM) PT Lowered to $75 at BofA Securities

BofA Securities analyst Daniel Bartus lowered the price target on Zoom Video (NASDAQ: ZM) to $75.00 (from $78.00) while maintaining a Buy rating.

The analyst comments "Eponymous video communications provider Zoom continues on the road to revenue growth recovery. 2Q revenue beat Street estimates by 1.2% (a smaller margin than recent quarters), contact center wins indicate growing competitive strength and commentary on revenue inflection (3Q24) and enterprise net dollar expansion (2025) were consistent with prior messaging. Resignation of respected CFO Kelly Steckelberg adds uncertainty, but the company is on solid financial footing and key metrics are stabilizing/improving. There are reasons to be constructive including inflecting metrics, competitive wins in contact center, and valuation (7x ’25E FCF). Caution is warranted based on the potential for increased competitive intensity in contact center, questions regarding use of cash ($7.5bn), and timing of material acceleration in revenue growth."

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