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UBS has raised its price target for Zoom Video Communications from $75 to $90 but maintains a "neutral" rating due to concerns over limited growth potential. The company anticipates only 3% revenue growth for Q4, indicating a conservative outlook for fiscal year 2026, which may dampen bullish investor sentiment. Despite Zoom's strong market presence and innovation, the current projections suggest challenges in returning to a higher growth trajectory.
Zoom Video Communications Inc. provided a sales forecast of approximately $1.18 billion for the upcoming quarter, which fell short of investor expectations for a larger increase from its expanded product offerings. The company anticipates adjusted earnings between $1.29 and $1.30 per share, slightly above analysts' average projection of $1.28 per share on sales of $1.17 billion, according to data compiled by Bloomberg.
Canva Inc. has appointed former Zoom CFO Kelly Steckelberg as its new financial executive, signaling potential plans for an IPO. The design software company, a key competitor to Adobe, recently achieved a valuation of $32 billion, up from $26 billion earlier this year. Steckelberg will begin her role on November 26.
Stocks experienced a modest decline on Tuesday, with the S&P 500 falling 0.3% and the Dow Jones Industrial Average losing nearly 1%. Despite this, all major indices remain up significantly for November, with the Nasdaq Composite gaining nearly 6.6%. Key stock pickers are in focus, and CyberArk Software is set to report results Wednesday, having dropped 5.5% on Tuesday.
The US telemedicine market is projected to grow from $26.10 billion in 2023 to $89.92 billion by 2033, with a CAGR of 13.17%. Key growth drivers include the integration of AI in teleradiology, the expansion of eHealth research, and rising healthcare spending, despite challenges like a shortage of qualified personnel and privacy concerns. The tele-hospital and clinic segment is expected to dominate revenue, while radiology leads in specialty market share.
The telehealth software market is projected to grow from $8.05 billion in 2023 to $9.52 billion in 2024, driven by the rising prevalence of chronic diseases and increasing consumer acceptance of telemedicine. By 2028, the market is expected to reach $18.69 billion, with a CAGR of 18.4%. Key trends include advancements in telecommunication technology and the integration of AI in telehealth services, enhancing remote patient monitoring and care.
Zoom Video Communications, Inc.
Companies
| Symbol | ZM |
| Name | Zoom Video Communications, Inc. |
| Currency | USD |
| Sector | Communication Services |
| IndustryGroup | Telecommunication Services |
| Industry | Diversified Telecommunication Services |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | San Jose |
| Zipcode | 95113 |
| Website | http://www.zoom.us |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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