Why Zoom Stock Zoomed Higher Today
Zoom Video Communications (NASDAQ: ZM) outgained the S&P 500 on Tuesday, which is saying something because the index closed a strong 2.1% higher. Zoom put up a 4.6% gain for the day, thanks in no small part to an analyst's upgrade.
Benchmark analyst Matthew Harrigan has firmly planted himself among the Zoom bulls. On Monday morning, he lifted his recommendation on the stock from hold to buy, at a price target of $124 per share. That level implies a 25% upside to the stock's current price.
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Source Fool.com
