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Here are the biggest calls on Wall Street on Tuesday:
BTIG upgraded the business teleconferencing service after its strong second-quarter earnings report and said it now has "greater conviction" the company can capitalize on the near and long-term opportunities ahead.
"So we are jumping into the deep end after its back-toback monstrous quarters, as we believe that global widespread adoption is still in the early stages, as the longer-term shift to a hybrid work model will likely drive outsized growth and market share gains over the next several years. We have greater conviction in Zoom's ability to capitalize on both the near- and long-term opportunity ahead, driving our upgrade on Zoom shares from Neutral to Buy with a $500 PT based on shares trading at 38x our FY23 revenue estimate of $3.8 billion."
Goldman initiated the developer and publisher of mobile games for smartphone and tablet devices and said "margins" should expand as its "portfolio scales" with M&A in the company's future.
"GLUU has a handful of games in its catalog and new game portfolio that have the potential to deliver consistent growth (i.e., become a Growth Game). This includes Kim Kardashian Hollywood which was first launched in 2014 but is now in turnaround due in part to a new and renewed license that incentivizes user acquisition. ... .GLUU margins should expand as its portfolio scales."