The upside potential in Zoom Video is likely limited going forward as mass vaccinations for the COVID-19 virus could put a dent in the firm’s business, according to a Wednesday note from JPMorgan.
The bank downgraded Zoom Video to Neutral from Buy and raised its price target to $450 from $425, representing potential upside of 9% from Tuesday’s close.
Shares of Zoom Video have rallied 505% year-to-date as of Tuesday’s close as social distancing and economic lockdowns caused rapid growth in the use of Zoom’s communication software.
