Zoom Video Gears Up For Q3 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Lisa Levin
Zoom Video Communications, Inc. (NASDAQ:ZM) is expected to report Q3 FY2024 earnings of $1.08 per share, slightly up from $1.07 the previous year, with revenues estimated at $1.12 billion versus $1.1 billion. The company recently showcased AI-powered features at Zoomtopia 2023. Ahead of the earnings call, analysts have revised their ratings and price targets for ZM, with Citigroup upgrading to Neutral and a $66 target, Rosenblatt reiterating Neutral at $75, Wedbush maintaining Neutral at $80, Baird keeping Outperform but reducing the target to $90, and Bernstein holding Market Perform with a target cut to $82. ZM shares rose 1.1% to close at $64.12 on Friday.

November 20, 2023 | 5:17 pm
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Zoom Video is anticipated to report a slight increase in Q3 earnings and has received various analyst rating updates. Citigroup upgraded ZM to Neutral with a $66 price target, while other analysts have reiterated ratings with adjusted price targets.
The slight increase in expected earnings and recent AI innovations may be positive, but the mixed analyst ratings and price target adjustments suggest uncertainty. The stock's recent gain indicates a cautiously optimistic market sentiment.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100