Stifel raises price target to $90 after earnings report

We recently compiled a list of the 14 AI News Stories That Broke the Internet This Week. In this article, we’ll take a look at where Zoom Video Communications, Inc. (NASDAQ:ZM) stands compared to the other AI stocks that disrupted the internet this week.

The World Trade Organization (WTO) recently released a report examining how artificial intelligence could shape the future of international trade. The report predicts that global real trade growth could rise by almost 14 percentage points by 2040 under optimistic scenarios of universal AI adoption, but only 7 percentage points under uneven adoption. In the best case scenario, services provided digitally could grow by 18 percentage points. While high-income economies may achieve the greatest productivity, lower-income economies can reduce trade costs more effectively, it says.

For more information on these developments, see The 10 Best AI Data Center Stocks And 10 Booming AI Stocks According to Goldman Sachs.

However, the report also warns of growing AI gaps, data management challenges and intellectual property concerns. She advocates for global coordination through the WTO to address these risks and ensure that AI promotes inclusive, fair trade. Based on the report’s conclusions, the WTO underlines that AI has the potential to reduce trade costs, reshape trade in services, increase AI-related trade in goods and services, and redefine comparative advantages between economies.

For more information on these developments, see 30 The most important AI stocks according to BlackRock And Beyond the Tech Giants: 35 Non-Tech AI Opportunities.

For this article, we selected AI stocks by reviewing news articles, stock analysis and press releases. These stocks are also popular with hedge funds. Why do we care about the stocks hedge funds invest in? The reason is simple: Our research shows that we can outperform the market by mimicking the top stock picks of the best hedge funds. Our quarterly newsletter strategy selects 14 small-cap and large-cap stocks each quarter and has returned 275% since May 2014, outperforming its benchmark by 150 percentage points (see more details here).

A close-up of a hand using a laptop to control an immersive video meeting.

Number of hedge fund owners: 39

Zoom Video Communications, Inc. (NASDAQ:ZM) provides a unified communications platform in the Americas, Asia Pacific, Europe, the Middle East and Africa. Following its third quarter earnings results, the company announced it was rebranding as an AI-first platform. On November 26, Stifel increased the stock’s price target from $70 to $90 and maintained a “Hold” rating on the stock. The results did not present any notable surprises, but rather showed a continuation of stabilizing trends in both the enterprise and online sectors, Stifel told investors in a post-earnings note. The stability of both cohorts and billions of dollars in share repurchase authorizations justify the stock’s rise of more than 60% from its August lows, but growth above mid-single digits appears unlikely in the short to medium term, the report added.

The story continues