Zoom Video Q2 upside partially one-time driven, says Citi

Citi analyst Tyler Radke raised the firm’s price target on Zoom Video to $66 from $65 and keeps a Sell rating on the shares. The company’s Q2 report “initially appeared quite solid,” with a “healthy” beat as revenue upside came from the enterprise segment with ZM Phone strength, the analyst tells investors in a research note. That said, the upside was partially one-time driven with revenue pull-forward, a softer Q3 billings and weaker second half revenue outlooks, the analyst tells investors in a research note.