Zoom Communications price target raised to $105 from $100 at Jefferies

Jefferies raised the firm’s price target on Zoom Communications (ZM) to $105 from $100 and keeps a Buy rating on the shares following the fiscal Q3 report. Zoom reported a 1% revenue beat and 6% earnings beat, with the upside coming from both enterprise and online, the analyst tells investors in a research note. Jefferies believes the company’s artificial intelligence product strategy is resonating. The solid report and expanded buyback authorization should support the shares, contends the firm.