Zoom Scores Multiple Upgrades After Having "One of the Best Quarters in Software History"
Zoom Video Communications (NASDAQ: ZM) got a boost today as multiple analysts upgraded their ratings on the stock and increased their price targets in the wake of the company's blockbuster earnings report on Tuesday.
Davidson analyst Rishi Jaluria upgraded Zoom stock to buy from neutral (hold), increasing his price target to $240, up from $150. In a note to clients titled, "One of the Best Quarters in Software History," Jaluria cited "irreversible changes" in the work environment going forward. "We believe Zoom has cemented itself as the de-facto standard for video conferencing and that office reopenings could provide more momentum to Zoom, due to competitive displacements," Jaluria wrote.
Image source: Zoom.
Source Fool.com
