Zoom Video (ZM) PT Raised to $100 at Baird

Baird analyst William Power raised the price target on Zoom Video (NASDAQ: ZM) to $100.00 (from $77.00) while maintaining a Outperform rating.

The analyst commented: "Positive on enterprise momentum. Yesterday ZM reported strong FQ3 results, highlighted by improved enterprise and total revenue growth, which we have long viewed as a potential catalyst. The stock dropped slightly after hours following recent strength and questions on billings growth and guidance, though we suspect conservatism on guidance and are encouraged with enterprise improvement. Even after recent strength (up 24% YTD vs. the S&P 500 +26%), we continue to like ZM as a value idea, trading at 11.4x our F26 FCF forecast. Raising our target price to $100."

You May Also Be Interested In

• Qualcomm (QCOM) PT Raised to $195 at BofA Securities
• Allegro MicroSystems (ALGM) PT Raised to $70 at TD Cowen: 'Secular + Cyclical Growth Combo'
• CVS Health (CVS) PT Raised to $110 at BofA Securities