India's Reliance announces official launch of Zoom rival, TNW says » 12:5907/0207/02/20
Indian telecommunications giant Reliance Jio has announced the official launch of a Zoom (ZM) competitor JioMeet, wrote TNW's Ivan Mehta. JioMeet is platform agnostic and will have "support for 100 participants in one meeting," added the story. "The company had first announced the service on April 30, and now it has made JioMeet available for everyone. During its test period, more than 100,000 people had downloaded the app," added TNW. Reference Link
Zoom Video selected by Los Angeles Unified School District » 09:0607/0207/02/20
Zoom Video Communications…
Zoom Video Communications and the Los Angeles Unified School District announced plans to enter a formal agreement for Zoom to provide a safe, secure solution for students to continue learning, teachers to continue teaching, and employees to engage in webinars and other online collaborations. The agreement will provide unlimited access to virtual classrooms for nearly 30,000 educators and more than 600,000 students in Los Angeles Unified schools. The platform enables a teacher to gauge the responses and reactions from as many as 49 students at a time, a function not currently available from any competing platform. Los Angeles Unified's Zoom deployment will also use Zoom Video Webinars for school board meetings, professional development, community outreach and other large-scale events that can connect as many as 10,000 participants simultaneously.
Wix.com price target raised to $300 from $275 at Wedbush » 08:0207/0207/02/20
Wedbush analyst Ygal…
Wedbush analyst Ygal Arounian raised the firm's price target on Wix.com (WIX) to $300 from $275 and keeps an Outperform rating on the shares. The analyst notes that Wix has announced the launch of a bundled e-commerce product, which he believes opens up the company's addressable market, as it becomes a more viable tool for SMBs that need stronger e-commerce capabilities. Further, Arounian thinks Wix e-commerce becomes a comparable solution to Shopify's (SHOP) non-Plus tiers. It's a significant step in the right direction, he contends, as it should position Wix as an alternative to Shopify for low to middle market SMBs that don't need the complexities of an enterprise solution.
Shopify price target raised to $1,100 from $820 at Baird » 04:5907/0207/02/20
Baird analyst Colin…
Baird analyst Colin Sebastian raised the firm's price target on Shopify to $1,100 from $820 and keeps an Outperform rating on the shares. The stock closed Wednesday up $66.21, or 7%, to $1,016.64. The analyst says that as Shopify hit the symbolic $1,000 share price milestone on "Canada Day," he remains "comfortable" with above-consensus revenue and earnings estimates. Channel checks suggest strong new merchant growth, accelerating gross merchandise volume, faster adoption of Shopify Payments, and increasing monetization from services, such as Fulfillment, Sebastian tells investors in a research note. While there may be higher small- to mid-sized business churn and "some lingering category headwinds," these are "temporary speed bumps" that will not detract from the broader structural changes in retail benefiting the platform, adds the analyst.
Zoom Video releases over 100 features in 90-day security push » 14:2307/0107/01/20
The Zoom Video CEO Eric…
The Zoom Video CEO Eric Yuan said in a 90 Days Done report: "During the first few months of 2020, the Zoom team worked around the clock to support the tremendous influx of new and different types of users on our platform. On April 1, we pledged to make a number of enhancements to address security and privacy. The 90-day program we rolled out that day refocused our company on 7 commitments that embedded security and privacy permanently in Zoom's DNA. Today I will provide a status update on each of those commitments, as well as share our path forward... We enacted a 90-day freeze on all features not related to privacy, safety, or security. With all of our engineering and product resources aimed in this direction, we released over 100 features...Acquired Keybase and started building end-to-end encryption (for all users, free and paid)..Going forward, we have put mechanisms in place to make sure that security and privacy remain a priority in each phase of our product and feature development." Reference Link
Facebook's WhatsApp allows up to eight people on video call » 12:3007/0107/01/20
FB, ZM, MSFT
Facebook's Instagram announced new WhatsApp features that are rolling out over the next few weeks. It said, "With now up to eight people on a video call, we've made it easier to focus on whoever you want by letting you press and hold to maximize a participant's video to full screen. We also added a video icon in group chats of eight or less, so you can easily start a group video call with one tap." Zoom Video Communications (ZM) and Microsoft (MSFT) also offer video group video calls. Reference Link
FedEx, Square upgrades among today's top calls on Wall Street » 10:1707/0107/01/20
FDX, SQ, SHOP, TXRH, EAT, DRI, CAKE, BLMN, INO
Check out today's top…
Shopify initiated with a Buy at Argus » 07:4507/0107/01/20
Argus analyst Jim…
Argus analyst Jim Kelleher initiated coverage of Shopify with a Buy rating and $1,050 price target. The analyst is positive on the company's position to offer merchant customers a "single view of multiple sales channels", including web-based and mobile online platforms, physical retail locations, social media storefronts, marketplaces, and other venues. The stock has become a "core holding" for institutional investors amid mounting challenges in physical retail, as the pandemic has "highlighted the limits on limits on brick-and-mortar commerce and heightened the need for a multichannel go-to-market model", Kelleher tells investors in a research note.
Shopify initiated with a Buy at Argus » 07:0607/0107/01/20
Argus analyst Jim…
Argus analyst Jim Kelleher initiated coverage of Shopify with a Buy rating and $1,050 price target.
Zoom Video announces five-year strategic partnership with Claflin University » 10:0506/3006/30/20
Zoom Video Communications…
Zoom Video Communications and Claflin University announced a commitment to a five-year strategic partnership. "The video communications provider and Historically Black University have developed a multifaceted foundational program that represents $1.2M in educational and financial investments," they announced.