Proxy advisor ISS seeks vote against Zoom-Five9 deal on growth doubts [Reuters]
Zoom Video Communications, Inc. - Class A (ZM)
Last zoom video communications, inc. - class a earnings: 3/4 04:20 pm
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Source: Reuters
Sept 17 (Reuters) - Proxy advisory firm Institutional Shareholder Services on Friday recommended a vote by shareholders against Zoom Video Communications Inc's (ZM.O) $14.7 billion deal for cloud-based call center operator Five9 Inc (FIVN.O) , citing growth concerns. Though the combined company will have access to a larger market, ISS said, "The all-stock deal exposes Five9 shareholders to a more volatile stock whose growth prospects have become less compelling as society inches towards a post-pandemic environment." Since the deal was announced on July 18, Zoom shares have lost more than 20% of their value, while Five9 has dipped about 5%. A pandemic winner whose shares had surged nearly 396% last year, Zoom struck its largest-ever acquisition for Five9 in a bid to expand beyond its core video-conferencing services. read more The company earlier this month announced improvements and expansions to its services that included event lobbies, chat, networking in the hope that cons
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- Zoom Video Communications, Inc. (NASDAQ: ZM) was upgraded by analysts at Rosenblatt Securities from a "neutral" rating to a "buy" rating. They now have a $75.00 price target on the stock.MarketBeat
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ZM
Earnings
- 2/26/24 - Beat
ZM
Sec Filings
- 4/22/24 - Form 4
- 4/19/24 - Form 4
- 4/18/24 - Form 144
- ZM's page on the SEC website