RBC names Zoom Video a top pick, says stock can bounce 30%


Eric Yuan, founder and chief executive officer of Zoom Video Communications, at right, speaks with Jay Heller, head of capital markets & initial public offering execution of Nasdaq, during the company’s IPO at the Nasdaq MarketSite in New York on April 18, 2019.

Victor J. Blue | Bloomberg | Getty Images

A hybrid return to office in the corporate world is an opportunity for Zoom Video to differentiate itself and excel, and investors should buy in, according to RBC Capital Markets.

Shares of the video conferencing company rose dramatically in 2020 as the Covid pandemic caused a scramble for solutions for companies working from home. However, the stock is down 38% from its late October peak as the fast development of a Covid vaccine led investors to focus on Zoom’s post-pandemic future.

RBC analyst Rishi Jaluria initiated coverage of the stock with an outperform rating, naming Zoom a top pick. Jaluria said in a note to clients on Thursday evening that the platform will continue to be a key part of work life in the future, particularly for larger enterprise customers.



Source link

More from author

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related posts

Advertismentspot_img

Latest posts

Austria 3-1 North Macedonia: Player ratings

Austria got their Euro 2020 campaign off to a winning start, recording a 3-1 victory over a spirited North Macedonia side in Bucharest....

Scouting Report: Federer, Top 10 Stars Out In Force In Halle & London | ATP Tour

The grass season that began with the MercedesCup in Stuttgart, gets into full swing this...

Austria 3 – 1 North Macedonia

Austria opened their...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!