- Analysts revised their price targets on Zoom Video Communications Inc (NASDAQ:ZM) ahead of its quarterly results.
- UBS analyst Karl Keirstead lowered the price target on Zoom to $130 from $250 (8% upside) and kept a Neutral rating on the shares ahead of its quarterly results.
- Despite the 35% year-to-date decline in the stock, the analyst recommends remaining on the sidelines given his concerns about U.S. market saturation, competition from Microsoft Corp (NASDAQ:MSFT) Teams, and price compression.
- Citi analyst Tyler Radke lowered the price target on Zoom to $147 from $250 (22% upside) and kept a Neutral rating on the shares.
- The analyst sees a "tough set-up" for the shares in the Q4 results.
- The analyst says that despite more "level-set expectations" for Q4 fiscal 2022 and the stock's significant underperformance, he remains on the sidelines with a cautious view on slowing growth and downside potential to initial fiscal 2022 guidance.
- Recently Baird and Mizuho also cut their price targets on Zoom.
- Price Action: ZM shares traded higher by 0.21% at $120.35 on the last check Thursday.
