Zoom Communications price target lowered to $85 from $90 at Stifel

Stifel lowered the firm’s price target on Zoom Communications (ZM) to $85 from $90 and keeps a Hold rating on the shares. Q4 results displayed continued stability, as churn and retention in both Enterprise and Online segments remained “solid to close the year,” the analyst tells investors. The firm believes Zoom’s continued product development over the past few years has created the foundation for a potential return to mid-single-digits growth or better in the coming years, the analyst added.