Bernstein gives Zoom shares a Street high price target, sees stock rallying another 20%

Zoom CEO Eric Yuan speaks before the Nasdaq opening bell ceremony in New York on April 18, 2019.
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AB Bernstein just became the biggest bull on Wall Street of breakout video conferencing stock Zoom Video.

The Wall Street firm hiked its 12-month price target on Zoom Video to $611 per share from $228 per share, representing about 20% upside from Wednesday closing price of $509.25 per share. This is a the highest target price of any major firm, according to FactSet.