JPMorgan also noted there are signs that customer churn data is stabilizing, as the company passes the one-year anniversary of peak user sign-ups during the pandemic. We see large enterprises looking to focus more on UCaaS platforms that can bring together video, calling, contact center, CPaaS, chat/task management," Auty said.
"The pandemic has likely permanently altered employee behavior to be much more comfortable with video collaboration first as a method of communication rather than a desktop phone. The bank predicts Zoom will be a big winner in the enterprise market of UCaaS, or unified communications as a service, along with Microsoft and its Teams product. The firm maintained its price target of $385 per share, implying 40% upside from Thursday's close. "We believe growth will bottom in the fourth quarter but think the market has priced that into the current stock price such that the risk/reward looks more attractive," JPMorgan's Sterling Auty said in a note titled "Enough is Enough." JPMorgan upped its rating on Zoom to overweight from neutral. The stock is down 18.5% in 2021, while the Nasdaq Composite is up 18.1% this year. Zoom shares have lost more than half their value since hitting an all-time high in October 2020. JPMorgan upgraded Zoom Video on Friday, saying the stock looks cheap at current levels as the video platform is set to benefit from a more permanent adoption of pandemic-era communication systems.
0 kommentar(er)
