These Analysts Slash Their Forecasts On Zoom Video Following Q1 Results
Portfolio Pulse from Avi Kapoor
Analysts have revised their price targets for Zoom Video Communications Inc (NASDAQ:ZM) following its Q1 earnings report. Despite beating earnings and revenue estimates, the company's guidance for Q2 fell short of expectations, leading to mixed analyst reactions.
May 21, 2024 | 12:11 pm
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Zoom Video Communications Inc (NASDAQ:ZM) reported better-than-expected Q1 earnings and revenue but provided Q2 guidance that fell short of analyst expectations. This led to mixed revisions in price targets from analysts at Bernstein, Baird, and Evercore ISI.
Zoom's Q1 results exceeded expectations, but the Q2 guidance was below analyst estimates, leading to mixed reactions from analysts. This suggests a neutral short-term impact on the stock price as positive earnings are offset by cautious future guidance.
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