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Zoom Video Stock Rebounds from Low Ahead of Earnings -Breaking


By Liz Moyer — Zoom Video Communications After touching its 52 week low on Thursday, Inc (NASDAQ) stock rebounded 12% Friday.

Zoom was one beneficiary of the pandemic trend of working from home, but this momentum is now waning. Shares are down by 48% and around 76% since their July high of 406 dollars.

Piper Sandler lowered its rating to neutral and overweight on Thursday, sending the stock plummeting. It also lowered its price target from $157 to $96, due to limited upside potential. Others pandemic darling stocks are also affected by this economic reopening. Peloton Interactive Inc (NASDAQ:).

Zoom is expanding its business beyond video conferencing, which includes phone. On Thursday it said it would acquire Solvvy, an artificial intelligence and automation platform for customer support. This new product will allow businesses to provide better customer service.

Zoom stock has risen to $95. Wall Street is still optimistic about the stock with seven strong buy ratings for it, as well as 10 buy ratings and 17 holds ratings. There are no sell ratings. 

Company earnings are due to be reported on May 23, for the latest quarter.