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Zoom Video Communications (ZM) Gets a Buy Rating from RBC Capital

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RBC Capital analyst Rishi Jaluria maintained a Buy rating on Zoom Video Communications (ZMResearch Report) on January 7 and set a price target of $300.00. The company’s shares closed last Friday at $171.60.

According to TipRanks.com, Jaluria is a 4-star analyst with an average return of 12.9% and a 55.4% success rate. Jaluria covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Duck Creek Technologies, and ZoomInfo Technologies.

Currently, the analyst consensus on Zoom Video Communications is a Moderate Buy with an average price target of $295.71, a 68.0% upside from current levels. In a report issued on December 30, Citic Securities also initiated coverage with a Buy rating on the stock with a $260.00 price target.

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Based on Zoom Video Communications’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.05 billion and net profit of $340 million. In comparison, last year the company earned revenue of $777 million and had a net profit of $199 million.

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Founded in 2011, Zoom Video Communications, Inc. is a cloud-based peer-to-peer software platform that connects people through videotelephony and online chat services. Its video-first communications platform is used for teleconferencing, telecommuting, distance education, and social relations.

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