Zoom Video price target raised to $611 from $228 at Bernstein

Bernstein analyst Zane Chrane raised the firm’s price target on Zoom Video Communications to $611 from $228 and keeps an Outperform rating on the shares following the company’s analyst day.
The stock closed Wednesday down $9.54 to $509.25. Zoom still has a “huge runway” for increasing penetration and revenue within the global 2,000 companies since only 12% are paying more than $100,000 in revenue, Chrane tells investors in a research note. The analyst estimates that Zoom phone has only reached approximately 1% penetration of the potential user base. This presents revenue upside of several billion dollars over the next few years, says Chrane.

The analyst estimates the company should be able to add an incremental $1.66B of recurring revenue over the next year and is “increasingly bullish” on its operational metrics and new product releases.

Related posts

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

ValueWalk

iPad Mini Display Outperformed By Kindle Fire HD & Nexus 7

ValueWalk

Foxconn Might Open Manufacturing Plants In The U.S. [REPORT]

ValueWalk

Peter Cundill Protégé Tim McElvaine on Investing in Japan [VIDEO]

ValueWalk

Set Bing Home Page Image As Lock Screen In Windows 8

ValueWalk

Morning Market News: JCP, APO, MCHP, ZIP, ENR, LGF, EA, ATVI, COV, LNT

ValueWalk