Wells Fargo lowered the firm’s price target on Zoom Video to $75 from $80 and keeps an Equal Weight rating on the shares. Zoom’s Q2 was again ahead of estimates, with the tone around enterprise improving but commentary around online stabilization taking a step back, the analyst tells investors in a research note. It is still tough to call when and where this model troughs, and Wells Fargo expects shares will remain range-bound as a result.
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