Zoom falls nearly 15% as Wall Street slashes price targets on earnings

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Shares of Zoom dipped nearly 15% on Tuesday after the video-chat company warned investors of a revenue growth slowdown, leading some firms to cut price targets on the stock. Zoom was one of the pandemic darlings, going from a relatively niche business software segment to a household product. Millions of people used the companys tech over the past nearly two years in order to keep up with school, work or socializing. BTIG, which lowered its price target to $400 from $460, reiterated its buy rating, but said the cut was to "better reflect current market sentiment and group multiple compression." Baird, Guggenheim, Wells Fargo, Stifel, UBS, Piper Sandler and KeyBanc also dropped their price targets.

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