Jefferies upgrades Zoom stock to Buy, citing optimism for future prospects
From Investing.com: 2024-12-19 08:07:31
Jefferies upgrades Zoom Video Communications (ZM) to Buy, citing optimism for 2025 prospects. Price target raised to $100 from $85. Shares rise 2% in premarket. AI Companion Add-On launch expected to drive revenue growth. Potential to add ~2 pts to Enterprise rev growth rate. Company to embed AI products into workflows for better retention. Net cash balance of $7.7 billion allows for buybacks and M&A. Stock trading at discount, poised for positive re-rating.
Read more at Investing.com: ‘Multiple reasons for optimism:’ Zoom stock lifted to Buy at Jefferies; shares up By Investing.com