Zoom Communications price target raised to $95 from $78 at Rosenblatt

Rosenblatt raised the firm’s price target on Zoom Communications (ZM) to $95 from $78 and keeps a Buy rating on the shares. The company posted a strong Q3 with notable achievements, the analyst tells investors in a research note. The firm says Zoom exceeded revenue and profitability guidance as the online business continues to stabilize, achieving its lowest-ever churn rate of 2.7%. This quarter’s “key win was a massive” 20,000 seat contact center deal, proving Zoom’s ability to compete at the enterprise level, contends Rosenblatt.