Citi doesn't like what it sees ahead of Zoom's Aug. 22 earnings report.
The catalyst that sent the teleconferencing stock lower was negative analyst commentary that painted a pretty bleak picture. Citi analyst Tyler Radke downgraded Zoom Video Communications stock to sell from neutral (hold), while assigning a $91 price target, according to The Fly. Ongoing macroeconomic weakness and uncertainty is taking a toll on small- and medium-size businesses (SMBs), a prime growth area for Zoom.
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