Zoom Communications price target raised to $85 from $80 at JPMorgan

JPMorgan raised the firm’s price target on Zoom Communications (ZM) to $85 from $80 and keeps a Neutral rating on the shares. The company surpassed Q1 guidance with revenue seeing benefit from incrementally favorable currency headwinds relative to original expectations, the analyst tells investors in a research note. The firm says that despite what is technically a beat and raise performance, the post-earnings focal point will likely include the incremental prudence baked in for the Enterprise segment due to macro uncertainty impacting a handful of customers.