Zoom Communications Inc. (NASDAQ:ZM) is one of the 10 tech stocks on Wall Street’s radar right now. On June 6, KeyBanc initiated coverage of Zoom Communications Inc. (NASDAQ:ZM) with an Underweight rating and set a $73 price target in a broader report on select Enterprise Software companies.
The analyst noted that the company’s core video conferencing business has faced challenges since the pandemic peak, as in-person work returned. The firm also mentioned the competitive pressure from Microsoft as it has strengthened its position with Teams, improving features and user experience. Keybanc said that the company’s efforts to grow beyond video collaboration have not been very compelling.
A close-up of a hand using a laptop to control an immersive video meeting.
Similarly, on May 22, Wells Fargo increased its price target on Zoom Communications Inc. (NASDAQ:ZM) from $75 to $80 and maintained an Equal Weight rating on the stock. The stock was already trading around $2 above the analyst’s price target on the day.
Zoom (NASDAQ:ZM) provides an AI-driven work platform featuring video meetings, messaging, cloud phone systems, and productivity tools like whiteboards, workflow automation, and modular docs, while also supporting virtual events, contact centers, and third-party app integration across various industries.
While we acknowledge the potential of ZM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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