Meanwhile BTIG analyst Matt VanVliet upgraded company's stock to Buy from Neutral with a $500 price target as he believes that Zoom is "setting new limits" for how rapidly an enterprise software platform can grow at scale with 102% quarter-over-quarter revenue growth and that the global widespread adoption of Zoom "is still in the early stages," as the longer-term shift to a hybrid work model will likely drive outsized growth and market share gains over the next several years.
Shares of Zoom Video (ZM.US) surged over 27% during premarket trading after the company reported another blowout quarterly earnings. Today the upward move is being continued after US open. Stock have reached its all-time high at $479.54 per share, however sellers showed some activity and the price pulled back. If sellers will manage to halt advances here, the downward move towards $412.65 is possible. Source: xStation5
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