Citi analyst Tyler Radke sees the workforce reduction at Zoom Video Communications as an "incremental positive" but keeps a Sell rating on the shares with a $67 price target. The firm still sees downside risk to growth heading into 2023, with rising competition further slowing Enterprise growth and small business online revenue continuing to decline. Zoom’s shift toward profitability amid decelerating growth is logical given its growth rates are of a mature software company, the analyst tells investors in a research note.
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Published first on TheFly
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