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Zoom Acquires Event Solution Assets from Liminal
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Zoom Acquires Event Solution Assets from Liminal

With the increasing number of virtual events due to the persistence of the pandemic, Zoom Video Communications (NASDAQ: ZM), a videoconferencing company, has acquired event solutions assets from Liminal, an event production startup, to cater to the industry needs. The financial terms of the deal have been kept under wraps. 

Benefits of the Acquisition 

With the help of the solutions offered by Liminal, including apps like ZoomISO and ZoomOSC, enhanced individual video outputs and sound controls in Zoom meetings are expected.

Furthermore, Liminal’s software is expected to complement Zoom’s events management and production offerings, leading to a broad, one-stop, hybrid events management platform.

Notably, two of Liminal’s co-founders, Andy Carluccio and Jonathan Kokotajlo, will join Zoom.

Official Comments 

In an emailed statement to CNET, a Zoom spokesperson said, “Like the future of work, we believe that the future of events will include a combination of virtual and in-person formats. Whether it is a large trade show, corporate summit, internal event or online classes, our customers will need a holistic solution that provides them with what they need to confidently build, host and manage virtual and hybrid events.” 

Analyst Recommendations

Recently, Goldman Sachs analyst Kash Rangan initiated coverage of Zoom with a Hold rating and a price target of $200 (6.7% upside potential).  

With a positive view on the sector, Rangan believes Zoom faces tough comparisons but is one of the few software companies expected to flourish in both the enterprise and consumer markets.
 
The rest of the Street is cautiously optimistic about the stock, with a Moderate Buy consensus rating based on 12 Buys, 13 Holds, and 1 Sell. The average Zoom price target of $297.50 implies 58.72% upside potential. Shares have fallen 47% over the past year. 

Website Traffic 

TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (NYSE: SEMR), the world’s biggest website usage monitoring service, offers insight into Zoom’s performance this quarter.

According to the tool, the Zoom website recorded a 56.3% decrease in global visits in November compared to the same period last year. Also, a quarter-to-date comparison showed a decline of 56.3% compared to Q4 2021, while year-to-date website traffic growth stands at 9.04%.

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Biogen & Eisai Receive FDA Fast Track Designation for Lecanemab

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