Zoom Video shares fell more than -3% Monday, following a rating downgrade by Goldman Sachs analysts.
Goldman analyst Heather Bellini downgraded Zoom Video shares to sell from neutral. According to Bellini, market expectations on Zoom “have gotten ahead of themselves” vis-a-vis its valuation.
However, the analyst increased her 12-month price target on the stock to $66 from $53. That’s because she maintains her “blue sky” scenario outlook on Zoom, expecting the company to surpass Wall Street consensus revenue estimates for 2020.