Zoom Provides an Encouraging Platform Opportunity

© Reuters.

By Sam Boughedda

Morgan Stanley maintained an Overweight rating and $130 price target on Zoom (NASDAQ:) in a research note Friday.

An analyst said the firm hosted Zoom’s CFO Kelly Steckelberg and Investor Relations Manager Charles Eveslage for an NDR with investors in New York Thursday.

He explained that the foundation of Morgan Stanley’s Overweight rating on Zoom is the “ability of the company to leverage their highly efficient platform to sell multiple products overtime.”

“While we acknowledge that the company will need to stabilize the online business before investors are willing to buy into the long term enterprise story, we continue to be encouraged by the platform opportunity, which we would look to hear more about at the upcoming Zoomtopia (November 8th),” wrote the analyst.

“In the near term, performance to expectations on the online business in FQ3 and stabilization of the online business early next year are the catalysts to rerating towards our PT.”

Zoom shares are up over 2% Friday but have declined over 55% in 2022.

Source link

Leave a Comment

Your email address will not be published.

Scroll to Top