May. 22 at 11:30 AM
$ZM Zoom Communications price target raised to
$107 from
$91 at Piper Sandler
Piper Sandler raised the firm's price target on Zoom Communications to
$107 from
$91 and keeps a Neutral rating on the shares. The firm notes Q1 results largely came in as expected, with Zoom continuing to show modest acceleration across remaining performance obligations and revenue while maintaining operational efficiency and emphasizing Zoom's relevancy via AI-solutions with a shift towards a "system of action" company. Zoom is benefiting from vendor consolidation, longer duration contracts, cross-sell, Online price increases, and foreign exchange tailwinds, Piper adds.