Zoom Video Upgraded To Overweight From Neutral At Piper Sandler

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Piper Sandler analyst James Fish upgraded Zoom Video Communications (ZM) to Overweight from Neutral with a price target of $541, up from $501.

The company reported a "very strong" end to fiscal 2021 and "better than feared" initial fiscal 2022 guidance, with Zoom Phone adoption and continued wins in Meetings both contributing to the upside, Fish tells investors in a research note.

The analyst sees "multiple secular tailwinds behind the business."

 

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