Zoom strength will continue after pandemic - JPMorgan
Mar. 30, 2020 10:23 AM ETZoom Video Communications, Inc. (ZM)ZMBy: Brandy Betz, SA News Editor22 Comments
- Zoom Video's (NASDAQ:ZM) DAUs are up a "staggering" 378% Y/Y, says JPMorgan citing Apptopia data.
- MAUs are up almost 190% due to the coronavirus-related remote work shift.
- Analyst Sterling Auty expects Zoom's demand to continue even after the pandemic eases since companies "will want to be prepared to handle disruptions in the future."
- The analyst says that the business user market is key for remote work-related companies, "and here is where we see Zoom pulling away from the competition."
- JPMorgan maintains an Overweight rating and $150 PT on Zoom. The company has a Neutral average Sell Side rating.
- Zoom shares are up 5.9% to $160.65.