Oppenheimer starts DocuSign (DOCU, $168.40) at ‘Outperform’ with a price target of $200, saying the company is a proven success story that’s taking share in the under-penetrated $50-billion digital agreement management market. 

Organizations that adopt DocuSign will never revert to old workflows, setting up a long-tail opportunity for monetization of the installed base via expansion and up-sells, argues the firm.

RBC Capital raises its Shopify (SHOP, $864.04) price target to $1,000 from $825, saying investors are still undervaluing the company’s total addressable market, take-rate potential and operating margin upside. 

Consumer buying patterns have changed permanently in favor of e-commerce during Covid-19, which warrants Shopify’s premium valuation, argues the firm.

Shopify shares today hit a new all-time high at $869.64. The stock has advanced 117% YTD.

Cantor Fitzgerald is particularly bullish on Zoom Video (ZM, $223.87), raising its price target to $261 from $150 following last night’s strong quarterly results and guidance. Revenue in FQ1 (April) jumped 169% to $328.2 million, easily beating the consensus estimate of $202.4 million

The firm believes the current environment continues to present upside potential, arguing that Zoom Video provides a superior communications platform at a time when video connectivity is becoming more important for all industries and business sizes.

Zoom Video shares today jumped 7.5% on heavy volume and hit a new all-time high at $224.46.