Jefferies initiated coverage of Zoom Video (ZM) with a Hold rating and $70 price target. The company is one of the “go-to” collaboration platforms, but it remains in transition as the management expects low growth and margin compression in FY25 as they position Zoom Video for better future growth, the analyst tells investors in a research note. Zoom’s new products should provide a tailwind, but the firm prefers to see more traction given its concerns with competition from Microsoft (MSFT) and others, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ZM:
- New Regulation Risk for Zoom Video Communications, Inc. Class A – What’s the Latest?
- #SocialStocks: Supreme Court looking into laws restricting editorial rights
- Zoom Stock (NASDAQ:ZM): Zoom Out and See the Big Picture
- Zoom Video offers ‘constructive outlook’, says RBC Capital
- Zoom Video price target lowered to $78 from $90 at BofA
