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What Makes Citic Securities Bullish On Zoom

Benzinga2021-12-30

  • Citic Securities analyst Junyun Chen initiated coverage on Zoom Video Communications Inc with a Buy and a $260 price target. The price target implies a 43% upside.
  • Zoom's stock price has fallen by two-thirds from its last October peak. The fall mainly reflects market concerns about declining revenue growth after the pandemic, the loss of small and medium-sized business customers, and competition from Microsoft Corp Teams.
  • However, current market concerns "are clearly excessive," and the stock is "oversold." Chen believes the global video conferencing market "maintains a high degree of prosperity."
  • Zoom maintains a "solid leading position" despite competition from Teams and Cisco Systems Inc.
  • Zoom provides a communications platform that connects people through video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video and connects users across various devices and locations in a single meeting.
  • Price Action: ZM shares closed lower by 1.07% at $181.81 on Wednesday.

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Comment3

  • 手可摘棉花
    ·2021-12-30
    Zooming up
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  • DinoJ
    ·2021-12-30
    Like pls
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  • kevinlaisq
    ·2021-12-30
    Pls like
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