Needham keeps a Hold rating on Zoom Video (ZM) after attending the company’s investor day and flagship Zoomtopia customer conference. Zoom has updated its long-term financial targets and introduced a plethora of new products that leverage AI as its investment of over $1B over the past three years is beginning to show results in the form of a robust expanding AI-first product portfolio, the analyst tells investors in a research note. Needham adds however that it still has concerns for how quickly Zoom can gain meaningful share in the enterprise segment vs. Microsoft (MSFT) or in a crowded contact center market.
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Read More on ZM:
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- Zoom Video price target raised to $85 from $83 at Benchmark
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- Zoom Video updates long-term operating profit view to 33%-36% of revenue
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