Zoom Video Communications (ZM - Free Report) is set to report first-quarter results after the closing bell. The Zacks Consensus Estimate calls for earnings of $0.88 per share, translating to a -33% decline relative to the first quarter in the prior year. Zoom, a Zacks Rank #3 (Hold), faces increasing competition in the video-conferencing space from the likes of Microsoft Teams and Google Meet.
The stock has witnessed a nearly -85% decline in price following its peak in October 2020. The major downside move has wiped out approximately $135 billion of market value.
Yet the company has seen a more than 12-fold rise in sales in its last three years. Momentum may persist as analysts anticipate a 12% rise in revenues during the first quarter. With a hybrid working environment looking to persist into the indefinite future, is now the time to buy?
Update: Zoom came out with quarterly earnings of $1.03 per share, surpassing the $0.88 Zacks Consensus Estimate by 17.05%. The company also beat on revenues, posting $1.07 billion for the quarter ending April 2022. Shares are surging over 6% in after-hours trading.
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Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Zoom Video Communications (ZM - Free Report) is set to report first-quarter results after the closing bell. The Zacks Consensus Estimate calls for earnings of $0.88 per share, translating to a -33% decline relative to the first quarter in the prior year. Zoom, a Zacks Rank #3 (Hold), faces increasing competition in the video-conferencing space from the likes of Microsoft Teams and Google Meet.
The stock has witnessed a nearly -85% decline in price following its peak in October 2020. The major downside move has wiped out approximately $135 billion of market value.
Yet the company has seen a more than 12-fold rise in sales in its last three years. Momentum may persist as analysts anticipate a 12% rise in revenues during the first quarter. With a hybrid working environment looking to persist into the indefinite future, is now the time to buy?
Update: Zoom came out with quarterly earnings of $1.03 per share, surpassing the $0.88 Zacks Consensus Estimate by 17.05%. The company also beat on revenues, posting $1.07 billion for the quarter ending April 2022. Shares are surging over 6% in after-hours trading.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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