KeyBanc lowered the firm’s price target on Zoom Communications (ZM) to $69 from $73 and keeps an Underweight rating on the shares. Zoom noted a few positive signs in the quarter, including better than expected performance from the Enterprise segment and in the Online segment, with KeyBanc telling investors that the enterprise performance was particularly notable given management called out some extra macro scrutiny coming out of Q1.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZM:
- Optimistic Outlook for Zoom Video Communications: Buy Rating Justified by Strong Q2 Performance and Future Growth Potential
- Zoom Video Communications: Strong Performance and Future Potential Drive Buy Rating
- Zoom Video Communications Reports Strong Q2 Earnings
- Closing Bell Movers: Intuit, Workday fall after results; Ross Stores higher
- ZM Earnings: Zoom Communications’ Stock Rises on Beat and Raise Quarter