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Zoom stock surged 3% in Monday morning trading

Tiger Newspress2021-07-26

Zoom stock surged 3% in Monday morning trading.Bank of America names Zoom Video a top pick, says Five9 deal is a ‘game-changer’.

Zoom Video’s first big acquisition will help it remain a major player in enterprise software in the years ahead, according to Bank of America.

Zoom announced earlier this month that it is buying cloud contact center stock Five9 in an all-stock deal worth just under $15 billion.

BofA analyst Daniel Bartus named Zoom Video a top pick, saying in a note to clients Monday that the deal with Five9 puts two complementary businesses in an attractive bundle and is a “game-changer” for the business communications sector.

“Together, Zoom/Five9 would be the strongest [unified communications and contact center as a service] combination in the market and the move increases the competitive risks for vendors selling both, such as RingCentral and 8x8,” the note said.

Shares of Zoom fell the day after the announcement, but the stock has since recovered most of those losses.

Bank of America has a price target of $480 per share for Zoom Video, which is more than 33% above where the stock closed Friday.

Zoom was one of the best performing stocks during 2020 as the Covid pandemic produced a surge in demand for video conference software. However, the stock peaked at roughly $568 per share last October.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment19

  • DenisL
    ·2021-07-28
    Five9 can save the day? 
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  • PhilipGoh
    ·2021-07-27
    PLEASE INVEST????
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  • Gaga71
    ·2021-07-27
    Zoom in!
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  • Gaga71
    ·2021-07-27
    Zoom in!
    Reply
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  • YimBH
    ·2021-07-27
    Great
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  • STKG
    ·2021-07-27
    Yes. Zoom
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  • KC17
    ·2021-07-27
    Great
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  • Liked
    Reply
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    • JT888
      ?
      2021-07-26
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  • VVTZ
    ·2021-07-26
    Go go!
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    • VVTZ
      ??
      2021-07-26
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  • stormlee
    ·2021-07-26
    Comment & like pls
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    View more 1 comments
  • Anneater
    ·2021-07-26
    Oh wow
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    • stormlee
      Comment & like pls
      2021-07-26
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  • Sam51
    ·2021-07-26
    Pls like and comment tq 
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    • PYEO
      Yes yes.
      2021-07-27
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    • Anneater
      K
      2021-07-26
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  • Jasminephyo
    ·2021-07-26
    Ok
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    • Ericsohth
      Yes
      2021-07-27
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    • CaiCai99

      interesting

      2021-07-26
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    • Sam51
      Yes
      2021-07-26
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  • Kristo
    ·2021-07-26
    Great
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    • stormlee
      Comment & like pls
      2021-07-26
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  • PickaChew
    ·2021-07-26
    Like pls
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  • Tomji
    ·2021-07-26
    Price target is $480. But no time line mentioned 
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    • AmosTeo
      Yes
      2021-07-26
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  • UNCLEUNCLE
    ·2021-07-26
    Good
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  • _Batman_
    ·2021-07-26
    Wow[Miser] 
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  • 俊俊君
    ·2021-07-26
    wow ?
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