15 AI News Updates That Investors Are Watching

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11. Zoom Video Communications, Inc. (NASDAQ:ZM)

Number of Hedge Fund Holders: 39

Zoom Video Communications, Inc. (NASDAQ:ZM) provides a unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Following third quarter earnings results, the firm announced it is rebranding as AI-first platform. On November 26, Rosenblatt raised the price target on the stock to $95 from $78 and kept a Buy rating on the shares. The company posted a strong Q3 with notable achievements, as Zoom exceeded revenue and profitability guidance and the online business continued to stabilize, achieving its lowest-ever churn rate of 2.7%. This quarter’s key win was a massive 20,000 seat contact center deal, proving Zoom’s ability to compete at the enterprise level, contends Rosenblatt.

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