Is Zoom Poised To Re-Accelerate Growth? 6 Analysts With Different Takes On FQ3 Results, Prospects
Portfolio Pulse from Priya Nigam
Zoom Video Communications Inc (NASDAQ:ZM) reported upbeat fiscal third-quarter results but shares continued to slide. Analysts from Mizuho Securities, Benchmark, Goldman Sachs, Needham, Oppenheimer, and KeyBanc Capital Markets provided mixed outlooks. Some see potential for growth re-acceleration through product diversification, while others remain cautious due to macro challenges and competition. Price targets range from $70 to $100, with ratings varying from Buy to Hold and Perform.
November 21, 2023 | 4:08 pm
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NEGATIVE IMPACT
Zoom Video Communications reported strong Q3 results but faces mixed analyst sentiments and a declining share price. Growth potential is seen in product diversification, but macro challenges and competition are concerns.
Despite positive earnings, the share price decline and cautious outlook from some analysts suggest potential short-term negative impact on the stock. The mixed analyst ratings and concerns about macro challenges and competition may dampen investor sentiment.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100