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ZM


DA Davidson likes Zoom push into email, says buy on recent selloff
DA Davidson analyst Rishi Jaluria keeps a Buy rating on Zoom Video Communications with a $600 price target after The Information reported yesterday that the company is working on an email solution. The move makes sense, given the convergence of workplace communication tools, Jaluria tells investors in a research note. The analyst likes that Zoom is "proactively investing in new growth opportunities instead of being complacent with the record growth it is seeing now." Further, Zoom has $1.9B in net cash on its balance sheet, meaning it could acquire companies to enter or expand into new areas, says Jaluria. Zoom remains one of the analyst's favorite names heading into 2021. The 19% December pullback in the shares has created an attractive buying opportunity, contends Jaluria