Zoom Video price target lowered to $70 from $75 at Stifel

Stifel lowered the firm’s price target on Zoom Video to $70 from $75 and keeps a Hold rating on the shares after the company kicked off its annual Zoomtopia conference. Zoom’s AI Companion was at the center of attention throughout the day, which was “surprising to none,” and management did not provide financial updates for the quarter or full year during the investor Q&A, the analyst said. However, the company did provide general business updates, including the progress of both Zoom Phone and Zoom Contact Center, the analyst added.