Zoom Video Communications (NASDAQ:ZM) shares dipped into the red Monday after MKM Partners analyst Catharine Trebnick cut her rating on the communications platform leader due to slowing growth that shows few signs of picking up soon.

Trebnick took down her opinion on Zoom (ZM) to neutral from buy, and lowered her price target on the company’s stock to $75 a share from $100. Among the reasons that Trebnick gave for her new, more-cautious take on Zoom (ZM) were what she called “limited upside” for the company’s Meetings offerings in due to larger economic pressures in Europe.

Trebnick also noted that the number of Zoom’s (ZM) new enterprise customers continue to show slowing growth. During its fiscal third quarter of 2022, Zoom’s (ZM) net enterprise customer additions rose just 14% from the prior quarter, which showed growth of 18%. During its 2021 fiscal third quarter, Zoom’s (ZM) enterprise customers climbed by 50%.

“We expect macro[economic] challenges will continue to pressure enterprise sales and top-line growth over the near term,” Trebnick said, in a research note.

Wall Street analysts and Seeking Alpha authors both have consensus hold ratings on Zoom’s (ZM) stock. Seeking Alpha’s Quant System, which historically outperform the stock market, agrees and also give Zoom (ZM) a hold rating.