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Zoom Video is expected to post earnings of $1.30 per share for the current quarter, representing a year-over-year change of +0.8%. Over the last 30 days, the Zacks Consensus Estimate has changed +10.9%. Zoom Video reported revenues of $1.14 billion in the last reported quarter, representing a year-over-year change of +3.3%.

Analyst rating

Compared to the Zacks Consensus Estimate of $1.15 billion, the reported revenues represent a surprise of +1.22%. ZM shares are trading higher Thursday after the company posted better-than-expected second-quarter financial results on Wednesday. Zoom’s latest fiscal year (FY) was FY 2021, which ended Jan. 31, 2021.

1. The U.S. government has been increasing its scrutiny of Zoom on several fronts.
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4. Rivals also include bundled productivity solution providers with video functionality such as Alphabet Inc.’s (GOOGL) Google G Suite and Microsoft Inc.’s (MSFT) Microsoft Teams.
5. The Zacks Consensus Estimate has changed +0.4% over the last 30 days.
6. For the current quarter, Zoom Video is expected to post earnings of $1.21 per share, indicating a change of -9.7% from the year-ago quarter.

The Zacks Consensus Estimate has changed +0.4% over the last 30 days. For Zoom Video, the consensus sales estimate for the current quarter of $1.15 billion indicates a year-over-year change of +0.9%. For the current and next fiscal years, $4.62 billion and $4.78 billion estimates indicate +2% and +3.6% changes, respectively. Even though a company’s earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It’s almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company’s potential revenue growth is crucial.

Zoom Video Communications, Inc.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 1 analysts have bearish recommendations on Zoom Video, while 3 analysts have bullish ratings. The street high price target from Benchmark is $83, while the street low from Wells Fargo is $55. Shares of Zoom Video Communications have an average 1-year price target of $72, representing an expected upside of 7.95%. Prior to founding Zoom, Yuan was corporate vice president of engineering at Cisco, and was a founding engineer and vice president of engineering for web and videoconferencing platform Webex.

Strong Buy Stocks for September, 2024

For that period, the company reported net income of $672.3 million on revenue of $2.7 billion. The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period. Compared to the Zacks Consensus Estimate of $1.13 billion, the reported revenues represent a surprise of +1.41%. Here at Zacks, we prioritize appraising the change in the projection of a company’s future earnings over anything else. That’s because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Top institutional shareholders of Zoom Video Communications include AQR Capital Management LLC (1.85%), Pacer Advisors Inc. (1.70%), Acadian Asset Management LLC (1.59%) and Sumitomo Mitsui Trust Holdings Inc. (1.21%). Insiders that own company stock include Santiago Subotovsky, Eric S Yuan, Velchamy Sankarlingam, Shane Crehan, Aparna Bawa, Jonathan Chadwick, Carl M Eschenbach, Ryan Azus and Kelly Steckelberg. Zoom Video is graded B on this front, indicating that it is trading at a discount to its peers.

Zoom Video Communications (ZM) Stock Price, News & Analysis

However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences. The company was founded by Eric S. Yuan in 2011 and is headquartered in San Jose, CA. Zoom Video Communications Inc. (ZM) offers a video-first communications platform used by millions of people worldwide for both business and personal use. The platform connects people via video, phone, chat, and content sharing and can be integrated across a broad range of devices. Zoom Video reported revenues of $1.16 billion in the last reported quarter, representing a year-over-year change of +2.1%.

Stock Ideas and Recommendations

Zoom Video Communications (ZM Quick QuoteZM – Free Report) is one of the stocks most watched by Zacks.com visitors lately. The U.S. government has been increasing its scrutiny of Zoom on several fronts. In 2020, the United States charged a China-based Zoom executive with conspiring to disrupt videoconference commemorations of the 1989 Tiananmen Square democracy protests. Zoom is also the focus of several ongoing federal investigations related to its dealings with Beijing, according to the Journal. The company is headquartered in San Jose, Calif., and has additional offices in more than 15 locations in the United States, Europe, Asia, and Australia.

Without considering a stock’s valuation, no investment decision can be efficient. In predicting a stock’s future price performance, it’s crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company’s growth prospects. Zoom Video shares are climbing on heavy trading volume and trending on social media as investors digest the report. According to data from Benzinga Pro, the stock has seen more than triple its average volume change hands in the session and is trading well-above the 50-day moving average of $58.25. For the current quarter, Zoom Video is expected to post earnings of $1.21 per share, indicating a change of -9.7% from the year-ago quarter.

Zoom reported quarterly earnings of $1.39 per share and revenue of $1.16 billion, beating analyst estimates. The company highlighted strength in large accounts and reported year-over-year revenue growth of 7.1% from customers contributing more than $100,000 in the trailing 12-month period. Zoom Video Communications, Inc. engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries.

Since 1988 it has more than doubled the S&P 500 with an average gain of +23.68% per year. These returns cover a period from January best forex chart patterns for efficient trading 1, 1988 through August 5, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.

Meetings on the platform can host as many as 1,000 participants, while webinars can scale up https://forexanalytics.info/ to as many as 50,000. © 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.

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