What's Happened To Zoom Stock Tuesday?
Portfolio Pulse from Ryan Gustafson
Zoom Video Communications, Inc. (NASDAQ:ZM) reported Q2 earnings of $1.34 per share, beating the analyst consensus estimate of $1.05. The company also reported quarterly sales of $1.14 billion, surpassing the analyst consensus estimate of $1.11 billion. However, Zoom's shares fell on Tuesday after several analysts adjusted their price targets on the company.
August 22, 2023 | 9:47 pm
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Zoom's Q2 earnings and sales beat estimates, but its shares fell after analysts adjusted their price targets.
Zoom's better-than-expected Q2 earnings and sales should have been positive for the stock. However, the subsequent adjustment of price targets by analysts, which is a significant factor in influencing investor sentiment and stock price, led to a fall in Zoom's shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100