Zoom Communications price target raised to $105 from $90 at Mizuho

Mizuho raised the firm’s price target on Zoom Communications (ZM) to $105 from $90 and keeps an Outperform rating on the shares. Zoom reported strong fiscal Q3 results and continues to generate best-in-class profitability and cash flow as management executes towards an eventual revenue reacceleration, the analyst tells investors in a research note. Longer-term, the firm expects Zoom to leverage its large installed base to cross-sell Zoom Contact Center and begin monetizing its artificial intelligence functionalities with free-to-paid conversions.