Zoom Video price target lowered to $65 from $70 at Stifel

Stifel lowered the firm’s price target on Zoom Video to $65 from $70 and keeps a Hold rating on the shares. Zoom’s Q1 results outpaced expectations and the company raised its full-year outlook accordingly, while the Online business was flat year-over-year, “signaling that the headwinds we’ve seen in recent years from that segment have started to become less severe,” the analyst tells investors. Stifel continues to look for signs of meaningful acceleration of the top line to get more constructive, but believes Zoom “has been planting seeds to achieve that goal,” the analyst added.