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HomeBusinessZoom’s Rating Raised to Neutral at Citi

Zoom’s Rating Raised to Neutral at Citi

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Citi analysts raised their rating for Zoom (NASDAQ:ZM) from Sell to Neutral, while maintaining the firm’s price target for the stock at $66 per share. This upgrade reflects Citi’s observation of signs of stabilization in the company’s performance.
The analysts pointed out that the risk/reward balance for Zoom’s stock is now more favorable, considering its current price is below Citi’s target and the stock is trading at near trough multiples. They mentioned that most of the concerns that led to the earlier downgrade have already manifested.
Additionally, the analysts highlighted the potential for near-term stabilization in Zoom’s performance. This expectation is based on the company’s conservative guidance, which takes into account the possibility of macroeconomic deterioration. they also noted some signs of incremental improvement in web traffic to Zoom.
Moreover, the analysts emphasized the successful uptake of Zoom’s AI companion, which could potentially increase the conversion of free users to paid subscribers.

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