Zoom shares slide on likely profit-booking after Q3 beat-and-raise
** Shares of Zoom Video Communications ZM.O down 7.7% at $82.28 premarket
** Zoom beats Q3 estimates and raises FY adj profit and rev forecasts
** "Traders are probably taking profits going into this shortened and light Thanksgiving holiday week," says Michael Ashley Schulman, CIO at Running Point Capital
** Stock has gained ~24% YTD, of which 14.5% was in the four sessions leading into Q3 report after the bell on Mon
** Still, Piper Sandler says Zoom is now getting a multiple more inline with value-names given the business stability and AI narrative
** Piper among the at least 5 brokerages that raise PTs
** Avg rating of 33 brokerages is a "hold", median PT is $85.5 - LSEG data
Reporting by Sukriti Gupta in Bengaluru
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