Zoom is soaring after blowout earnings — Here's what Wall Street analysts are saying to do now

Eric Yuan, founder and chief executive officer of Zoom Video Communications, at right, speaks with Jay Heller, head of capital markets & initial public offering execution of Nasdaq, during the company's IPO at the Nasdaq MarketSite in New York on April 18, 2019.
Victor J. Blue | Bloomberg | Getty Images

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Wall Street analysts praised Zoom Video after blowout results for the second quarter sent the video conferencing stock roaring higher. 

The work-from-home company that has become synonymous with video calls reported earnings of 92 cents per share on $663.5 million of revenue for the quarter, easily topping Wall Street expectations on both fronts. The stock was up more than 40% on Tuesday. 

JPMorgan, which already had an outperform rating on the stock, nearly doubled its price target after seeing the results.