Corporate layoffs and a weak macroeconomic environment are reasons to be cautious around Zoom Video Communications stock.
Zoom Video Communications ‘ sales to businesses are holding up better than expected, but investors should be wary of how the macroeconomic environment will affect spending, KeyBanc’s Thomas Blakey wrote in a research note.
Zoom shares were rising in the Tuesday premarket after its quarterly earnings and revenue both came in ahead of expectations. “Zoom continues to benefit from upsells including bundles , which appear to partially offset seat-related downsells,” Blakey wrote.
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