JPMorgan Raises Targets On Social Media, Zoom Announces Home

SOCIAL MEDIA COMPANIES PRICE TARGETS RAISED AT JPMORGAN

 On July 15, JPMorgan analyst Doug Anmuth raised his price target on Facebook (FB) to $290, from $245, and kept an "Overweight" rating on the shares. The analyst said he believes online advertising spending troughed in April with trends improving since, though he admits they are still not back to pre-crisis levels. Given improving trends and better visibility, Anmuth expects online ad companies to provide guidance, or at least trends, for those who don't usually guide.

He continues to prefer Facebook and Snap (SNAP) heading into the Q2 reporting season. Anmuth raised his price target on Snap to $28, from $22, and kept an "Overweight" rating on the shares. Anmuth also raised his price target on Twitter (TWTR) to $33, from $29, and kept a "Neutral" rating on the shares, and raised his price target on Pinterest (PINS) to $26, from $17, and kept a "Neutral" rating on the shares.

ZOOM VIDEO LAUNCHES ZOOM FOR HOME

Zoom Video Communications (ZM) announced Zoom for Home, a new category of software experiences and hardware devices to support remote work use. Zoom for Home meets the needs of the present shelter-in-place and the new normal of hybrid work forces. Zoom for Home - DTEN ME, is the first ever Zoom for Home device.

Zoom partnered with DTEN to create an "immersive and productive workspace." Features for the all-in-one 27-inch device include: three built-in wide-angle cameras for high-resolution video, an 8-microphone array for crystal-clear audio in meetings and phone calls, and an ultra-responsive touch display for interactive screen sharing, whiteboarding, annotating, and brainstorming.

GOOGLE FAVORS YOUTUBE OVER RIVALS IN SEARCH RESULTS FOR VIDEOS

 On July 14, Sam Schechner, Kirsten Grind, and John West of the Wall Street Journal reported that Google (GOOGL) engineers have programmed its online-video service, YouTube, to favor YouTube over other video sources in its search queries. "A Journal investigation last year showed that Google engineers make regular algorithmic changes in order to achieve specific business aims, contrary to the company's public statements that its search results are purely objective and autonomous," added the WSJ story.

According to the WSJ story Google's "competitive practices," are already under regular scrutiny, and executives from the company and other technology firms will testify before Congress July 27, "as part of an investigation into their power over the digital marketplace," added the Wall Street Journal.