RBC Capital keeps an Outperform rating and $95 price target on Zoom Video after its Q2 earnings beat. The company reported a decent beat-and-raise against a low bar, with revenue upside driven by better-than-feared Enterprise growth as Phone/ZoomOne cross-sell momentum continues, the analyst tells investors in a research note. Visibility into a reacceleration in Enterprise sales remains unclear, but RBC remains “optimistic” on Zoom Video’s long-term story, especially with $6B on the balance sheet and a compelling valuation, the firm added.
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Read More on ZM:
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