RBC names Zoom Video a top pick, says stock can bounce 30%

A hybrid return to office in the corporate world is an opportunity for Zoom Video to differentiate itself and excel, and investors should buy in, according to RBC Capital Markets.

Shares of the video conferencing company rose dramatically in 2020 as the Covid pandemic caused a scramble for solutions for companies working from home. However, the stock is down 38% from its late October peak as the fast development of a Covid vaccine led investors to focus on Zoom’s post-pandemic future.

RBC analyst Rishi Jaluria initiated coverage of the stock with an outperform rating, naming Zoom a top pick. Jaluria said in a note to clients on Thursday evening that the platform will continue to be a key part of work life in the future, particularly for larger enterprise customers.

Leave a Reply