Zoom Video price target raised to $89 from $78 at Bernstein

Bernstein raised the firm’s price target on Zoom Video (ZM) to $89 from $78 and keeps a Market Perform rating on the shares. The firm notes Zoom’s Q3 earnings delivered another modest beat and raise, similar to last quarter, at about 1.3% revenue beat vs. midpoint guide, and raised full year by 0.5%. But these rates of beats remain below levels that were common in the couple prior years, even after the huge post COVID stalling of growth, Bernstein adds.