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Zoom stock projections
Zoom stock projections












zoom stock projections

Why did Zoom fall 21% a day after hitting all-time high?īetween Thursday (03 September 2020) and Tuesday (09 September 2020), Zoom saw its share price plunge as much as 21%, as the market went into correction mode on tech companies just ahead of the long Labour Day weekend.Įlectric car manufacturer Tesla, often described as more of a tech company than an automobile maker, appeared to have triggered the shorting momentum, with investors selling off stocks as early as last Tuesday 01 September. IG's client analysis shows that ‘sells’ (short positions) form 51% of all Zoom trades so far this week.Īdditionally, 89% of all opened positions on Zoom are currently 'long', indicating an expectation for price to increase. Zoom’s double-digit rally outperformed both the wider tech sector – Nasdaq-100 Technology Sector index closed the day 2.34% higher, as well as the overall market (S&P 500: +2.01% Dow Jones: +1.6% and Nasdaq 100: +2.96%). Shares rose to an intraday high US$394.80 on the IG platform towards the close of day. All rights reserved.The Zoom Video Communications (NASDAQ: ZM) stock soared as much as 11.5% on Wednesday 10 September 2020, signalling an end to the recent tech sell-off. The-CNN-Wire™ & © 2022 Cable News Network, Inc., a Warner Bros. The company is trying to get user and sales growth back on track with newer products such as the Zoom Phone voice service, which lets customers make phone calls over the internet, and a lower-priced Zoom Rooms conferencing platform.

zoom stock projections

One of those analysts, Siti Panigrahi of Mizuho Securities USA, said in a report Tuesday that the rest of this fiscal year will be "a transition year as Zoom invests to build a durable, post-pandemic growth profile." And just last week, Citi analyst Tyler Radke slashed his rating on Zoom to a rare "sell," citing concerns about slowing growth.Īt least a dozen more analysts cut their price targets on Zoom late Monday and early Tuesday following the earnings, according to Refinitiv. The stock was down nearly 50% year-to-date heading into Monday. It was already a tough year for Zoom even before the company reported its latest results. "And as we believe this customer behavior will persist, we have factored it into our outlook." "We have moved beyond the pandemic buying patterns," said Zoom chief financial officer Kelly Steckelberg during a conference call with analysts Monday afternoon following the earnings release.














Zoom stock projections