Zoom Video Communications (ZM - Free Report) shares ended the last trading session 4.5% higher at $386.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.5% loss over the past four weeks.
This marks the third consecutive day of Zoom Video’s price increase. Even with businesses reopening their offices, Zoom Video is poised to benefit from increasing adoption of hybrid work environments, in which enterprise IT budgets will continue to prioritize video and cloud communications.
This video-conferencing company is expected to post quarterly earnings of $1.16 per share in its upcoming report, which represents a year-over-year change of +26.1%. Revenues are expected to be $990.32 million, up 49.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Zoom Video, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Zoom Video Communications (ZM - Free Report) shares ended the last trading session 4.5% higher at $386.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.5% loss over the past four weeks.
This marks the third consecutive day of Zoom Video’s price increase. Even with businesses reopening their offices, Zoom Video is poised to benefit from increasing adoption of hybrid work environments, in which enterprise IT budgets will continue to prioritize video and cloud communications.
This video-conferencing company is expected to post quarterly earnings of $1.16 per share in its upcoming report, which represents a year-over-year change of +26.1%. Revenues are expected to be $990.32 million, up 49.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Zoom Video, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
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