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Shares of videoconferencing service Zoom, one of 2020’s pandemic-era stock market darlings, have continued to struggle this year, plunging 15% on Tuesday after several Wall Street analysts downgraded the stock amid concerns that the company faces slowing revenue growth.


A day after reporting quarterly earnings that underwhelmed investors, Zoom’s stock fell over 15% to under $82 per share, adding to already significant losses so far this year.

The videoconferencing platform missed on revenue, which came in at $1.10 billion—short of the $1.12 analysts were hoping for.

Revenue grew at an annual rate of 8%, but slowed from 12% in the previous quarter, while net income fell to $45.7 million compared to nearly $317 million a year ago as the company spent more on sales and marketing.

Management cited the negative impact of a strong US dollar on revenue in the most recent quarter, while executives also warned of “macro dynamics” and challenging economic conditions as the company slashed its financial outlook for the rest of the year.

BTIG analysts on Tuesday downgraded shares of the video platform to a “neutral” from a “buy” rating, warning that the recent pullback in profitability and cash flow is “somewhat concerning as top-line growth slows further.”

Analysts at Citi similarly slashed their outlook for Zoom shares to sell a rating from neutral as the company faces increased competition, while also warning about economic pressures on small and medium-size businesses who use the product.