Needham Turns Bullish on Zoom (ZM) - The AI Edge That Could Fuel Growth

We recently published a list of 10 AI Stocks on Latest News and Ratings. In this article, we are going to take a look at where Zoom Video Communications, Inc. (NASDAQ:ZM) stands against other best AI stocks on latest news and ratings.

Zoom Video Communications, Inc. (NASDAQ:ZM) is a communications technology company popularly known for its video conferencing application called Zoom. On May 22, analyst Joshua Reilly at Needham adjusted his rating from Hold to “Buy” with a revised price target of $100. According to the firm, Zoom is at a significant turning point due to easing revenue headwinds from Online, peaking dilution from stock-based compensation, and decreased share count with buybacks moving forward. The analyst further noted that Zoom’s pricing power may be returning due to the new embedded AI functionality and that the company is “well positioned for new products driven by AI to begin moving the needle on growth.”

Overall, ZM ranks 8th on our list of best AI stocks on latest news and ratings. While we acknowledge the potential of ZM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ZM and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 12 AI Stocks Making Waves on Wall Street Today and 15 AI Stocks Surging on News and Analyst Ratings.

Disclosure: None. This article is originally published at Insider Monkey.