![]() ZM stock is down 7.9% as of Tuesday morning. The company will release results for the second quarter of fiscal 2023 after markets close on Aug. The 90 analysts offering price forecasts for Zoom Video Communications have a median target of 266.54, with a high estimate of 570.00 and a low estimate of 76.00. It’s also worth mentioning that this downgrade comes shortly before Zoom is set to release its latest earnings report. Zoom’s Online business looks particularly at risk, with 48% annualized churn rates in a good economic environment.” Zoom’s latest quarterly results were better than expected, but revenue growth continues to slow. This includes slower IT budgets with significant de-prioritization of UCaaS and collaboration software, rising competition from Teams, while web traffic trends suggest significant declines y/y (-40%+ year over year). Shares of ZoomInfo Technologies ( ZI 1.27), a cloud-based market-intelligence platform, fell today after the company announced the pricing of its secondary offering. ![]() “Our recent survey work, conference takeaways and web traffic tracking suggests that headwinds are beginning to pile up. The Places Library, JavaScript API shares a usage quota with Places API as. ![]() So why is Radke taking such a bearish stance on ZM stock today? He said the following in a note to investors obtained by Yahoo! Finance. Click the project drop-down and select the project that contains the API key. It’s also a far cry from the analyst consensus price prediction of $160.34 per share. That’s below the company’s closing price of $113.23 on Monday. It’s also worth noting that Radke has a $91 price target for ZM stock. Summary ZM stock has collapsed dramatically from its recent July highs, decisively breaking below its previous May lows. Shares of Zoom dropped 7.46 Wednesday, as investors likely took their profits from Tuesday’s stock surge. To put that in perspective, the current consensus rating for ZM shares is “hold.” That comes from 14 “buy” ratings, 15 “hold” ratings, as well as a single “sell” rating. This has the Citi analyst dropping ZM stock from its previous “neutral” rating to a new “sell” rating. CNN Sans ™ & © 2016 Cable News Network.Zoom (NASDAQ: ZM) stock is slipping on Tuesday after Citi analyst Tyler Radke hit the company with a downgrade. The stock ran up 37 in February alone, as investors have been betting that the virus will drive increased demand for the companys videoconferencing products. Market holidays and trading hours provided by Copp Clark Limited. ![]() All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. ![]() Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. Recent price changes and earnings estimate revisions indicate this would not be a good stock for momentum investors. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account ![]()
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