What's Going On With Zoom Stock?
Portfolio Pulse from Ryan Gustafson
Zoom Video Communications, Inc. (NASDAQ:ZM) shares fell after reporting Q3 earnings. Despite beating revenue and EPS estimates and issuing strong guidance, the stock experienced volatility, dropping over 3% on Wednesday. Barclays and Piper Sandler analysts lowered their price targets for ZM following the earnings release.
November 22, 2023 | 8:53 pm
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NEGATIVE IMPACT
Zoom's Q3 earnings beat and positive guidance were overshadowed by a stock price decline and lowered analyst price targets from Barclays and Piper Sandler.
Zoom's stock price decline, despite outperforming earnings and revenue expectations, suggests market concerns about future growth or profitability. The lowered price targets by analysts could further dampen investor sentiment in the short term, leading to a negative impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100