🚀 ProPicks AI Hits +34.9% Return!Read Now

Zoom Stock Falls After Being Initiated with Equal Weight By Wells Fargo

Published 22/11/2021, 21:10
©  Reuters
WFC
-
ZM
-

By Sam Boughedda

Investing.com — Zoom Video Communications Inc (NASDAQ:ZM) stock has weakened over 3.7% Monday after  Wells Fargo initiated the company with an equal weight rating.

Analyst Michael Turrin also set a $275 price target for the stock, telling investors ahead of its earnings release that despite the company achieving record operating results in the last 18 months, there is an "admittedly challenging" set up ahead its shares. 

"As the company laps some exceptional prior results, we think the investor discussion will continue to focus in on Zoom's future growth prospects and what levers are still ahead," said Turrin.

The analyst added that current challenges for the company are likely to keep its shares rangebound. Zoom shares closed Monday's session at $241.94.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.