Eric Yuan, founder and CEO of Zoom Video Communications, right, chats with Jay Heller, head of capital markets and execution of Nasdaq’s initial public offering, during the company’s IPO at the Nasdaq MarketSite in New York City on April 18, 2019.
Victor J. Blue | Bloomberg | Getty Images
A hybrid return to power in the corporate world is an opportunity for Zoom video to differentiate and excel, and investors should join, according to RBC Capital Markets.
Shares of the video conferencing company rose dramatically in 2020, with the pandemic causing a scramble for solutions for businesses working from home. However, the stock is down 38% from its peak in late October, as rapid vaccine development has led investors to focus on Zoom’s future use case.
RBC analyst Rishi Jaluria kicked off the stock cover with an outperformance 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 working life in the future, especially for large corporate clients.