Zoom became the top tech IPO of 2019 due to a positive response coming from investors since the very first sale of Zoom shares was opened back on April 18th.
What made Zoom IPO a true success, was 72% of increase on the first day, while Zoom share price went up by a total of 103% in the 30-day period since its initial public debut.
Additionally, Zoom dropped by -9% in a trading session on May 13th. Here is what equity analysts say about Zoom share performance in the following period.
Based on the general analysis provided by 14 financial analysts following the progress of Zoom shares in the market, the average target price for Zoom is set at 76.50$.
Earnings from May 2018 are not defined in the report; however, analysts recommend an average rank “hold” based on Zoom share performance and the present price 79.96$ with the latest closing on May 16th.
Out of 14 equity analysts who have provided their opinion as well as their ranks, 9 believe that Zoom shares represent “hold”.
Furthermore, 3 analysts are indicating that Zoom has more room for growth from the present point, recommending rank “buy”, one analyst recommended “sell” and one analyst considers that the share is “overweight”.
JMP Securities released a market performance report, suggesting that the share price target for Zoom shares should be set at 79.63$.
Moreover, Credit Suisse believes that Zoom shares have a rank “neutral” with 80$ as target share price.
Summit Insights, on the other hand, consider the share to be a “sell” as issued in their report on May 13th.
JP Morgan might have provided the most enthusiastic prediction, giving “overweight” rank to Zoom shares with target price said to be 113$ per share.