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Zoom Initiated ‘Overweight’ by Cantor Fitzgerald on ‘Significant Upside Potential’ Driven by Coronavirus | #corporatesecurity | #businesssecurity | #


The coronavirus pandemic presents “significant upside potential” for Zoom Video Communications  (ZM) – Get Report, according to a Cantor Fitzgerald analyst who initiated coverage of the teleconferencing company with an overweight rating and a price target of $150 a share.

Shares of the San Jose-based company were climbing 4.9% to $142.61.

“We believe the current Covid-19 environment presents significant upside potential not currently assumed in the stock,” analyst Drew Kootman said in a note to clients. “Zoom provides a superior communication platform in a time where video and connectivity is becoming more important for all industries and business sizes.”

The coronavirus outbreak has sparked a virtual shutdown of the world’s economy with many companies using Zoom to conduct online meetings to stay in operation while observing social distancing requirements. 

Kootman said he expected “the virus to provide upside to estimates and for the platform and its products to drive increased market penetration and future cross-selling opportunities.”





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