The sour market reaction to earnings is ‘too much overblown,’ analyst says
Zoom (ZM) shares are sinking 17% on Tuesday, despite a better-than-expected quarter on the top and bottom line. The video conferencing company’s stock is under pressure amid fears of a slowdown in virtual meetings as the pandemic eases.
“It’s a little bit too much overblown in our view,” said James Fish, senior research analyst at Piper Sandler. The analyst has a $299 price target on the stock.
“Just look at Enterprise, which grew 65% on its own, and Commercial Fees, which are still growing at…