Zoom Raises On Argus Upgrade Citing High Installed Base By Investing.com

<iframe src=”//rcm-na.amazon-adsystem.com/e/cm?o=1&p=22&l=ur1&category=homegarden&banner=02NMTC702K4D0VHE1SR2&f=ifr&linkID=17e0b4ac3a719000706e772761d8ae0e&t=forexz-20&tracking_id=forexz-20″ width=”250″ height=”250″ scrolling=”no” border=”0″ marginwidth=”0″ style=”border:none;” frameborder=”0″></iframe>


By Dhirendra Tripathi

Investing.com – Zoom (NASDAQ:) shares rose more than 2% in Thursday’s trade following an upgrade by Argus that sees its high installed user base driving its growth.

Argus analyst Joseph Bonner upgraded the stock to buy with a $440 target, a 29% upside from the stock’s current level of $341.

At the end of April, Zoom had approximately 497,000 customers at companies with more than 10 employees. It had 1,999 customers contributing more than $100,000 in trailing 12 months revenue.

Bonner believes Zoom continues to benefit from the high number of users that came to its platform during the pandemic.

As life returns to normal, there has been much debate about business moving away from companies that benefited from work-at-home conditions during the pandemic, Zoom notably. Many expect life will move back to a hybrid model where remote or work-from-home will co-exist with the conventional workplace ecosystem.

Bonner sees Zoom’s full year 2022 earnings per share at $4.62 and fiscal 2023 EPS at $4.97. Zoom’s fiscal year runs from February through January.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


47 − = 43