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Zoom Video Communications (ZM) Stock Moves -1.46%: What You Should Know
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Zoom Video Communications (ZM - Free Report) closed the latest trading day at $61.23, indicating a -1.46% change from the previous session's end. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq lost 0.18%.
The the stock of video-conferencing company has fallen by 2.68% in the past month, lagging the Computer and Technology sector's gain of 0.83% and the S&P 500's loss of 0.22%.
Market participants will be closely following the financial results of Zoom Video Communications in its upcoming release. The company plans to announce its earnings on May 20, 2024. The company's upcoming EPS is projected at $1.19, signifying a 2.59% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.13 billion, reflecting a 1.81% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.89 per share and revenue of $4.6 billion, which would represent changes of -6.14% and +1.64%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Zoom Video Communications. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Zoom Video Communications presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Zoom Video Communications is presently being traded at a Forward P/E ratio of 12.7. For comparison, its industry has an average Forward P/E of 30.14, which means Zoom Video Communications is trading at a discount to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Zoom Video Communications (ZM) Stock Moves -1.46%: What You Should Know
Zoom Video Communications (ZM - Free Report) closed the latest trading day at $61.23, indicating a -1.46% change from the previous session's end. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq lost 0.18%.
The the stock of video-conferencing company has fallen by 2.68% in the past month, lagging the Computer and Technology sector's gain of 0.83% and the S&P 500's loss of 0.22%.
Market participants will be closely following the financial results of Zoom Video Communications in its upcoming release. The company plans to announce its earnings on May 20, 2024. The company's upcoming EPS is projected at $1.19, signifying a 2.59% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.13 billion, reflecting a 1.81% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.89 per share and revenue of $4.6 billion, which would represent changes of -6.14% and +1.64%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Zoom Video Communications. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Zoom Video Communications presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Zoom Video Communications is presently being traded at a Forward P/E ratio of 12.7. For comparison, its industry has an average Forward P/E of 30.14, which means Zoom Video Communications is trading at a discount to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.