Zoom stock projections1/7/2023 The Zoom stock has a 12-month target price of US$394.34 from 21 analysts polled by Bloomberg, as of 10 September 2020. What is the latest broker outlook for Zoom? Ready to trade Zoom Video Communications?ĬFDs allow you to buy (long) or sell (short) Zoom shares without trading the underlying asset. On the other hand, Zoom shares had just hit an all-time peak price of US$462 on the same day that Tesla’s correction began.Īs previously reported, the Zoom stock opened 44% higher last week after its second quarter revenue and earnings per share smashed Wall Street estimates by 33% and 104% respectively. Tesla, whose shares were up as much as 430% earlier this year, saw its stock crash over 40% during this four-day sell-off. Why did Zoom fall 21% a day after hitting all-time high?īetween Thursday (03 September 2020) and Tuesday (09 September 2020), Zoom saw its share price plunge as much as 21%, as the market went into correction mode on tech companies just ahead of the long Labour Day weekend.Įlectric car manufacturer Tesla, often described as more of a tech company than an automobile maker, appeared to have triggered the shorting momentum, with investors selling off stocks as early as last Tuesday 01 September. IG's client analysis shows that ‘sells’ (short positions) form 51% of all Zoom trades so far this week.Īdditionally, 89% of all opened positions on Zoom are currently 'long', indicating an expectation for price to increase. Zoom’s double-digit rally outperformed both the wider tech sector – Nasdaq-100 Technology Sector index closed the day 2.34% higher, as well as the overall market (S&P 500: +2.01% Dow Jones: +1.6% and Nasdaq 100: +2.96%). Shares rose to an intraday high US$394.80 on the IG platform towards the close of day. The Zoom Video Communications (NASDAQ: ZM) stock soared as much as 11.5% on Wednesday 10 September 2020, signalling an end to the recent tech sell-off.
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