Zoom Video Stock Is Sliding Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Zoom Video Communications Inc (NASDAQ:ZM) shares are trading lower following the company's first-quarter financial results. Despite beating revenue and EPS estimates, multiple analysts lowered their price targets on the stock. Zoom's Q1 revenue was $1.14 billion, and EPS was $1.35. The company provided a mixed outlook for Q2 and the full year, with revenue projections meeting estimates but EPS projections slightly below. Analysts' price target adjustments reflect cautious sentiment.
May 21, 2024 | 1:13 pm
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Zoom Video Communications Inc (NASDAQ:ZM) shares are down following Q1 results. Despite beating revenue and EPS estimates, the company's mixed outlook and lowered price targets from multiple analysts have contributed to the decline.
Zoom's Q1 results showed strong performance with revenue and EPS beating estimates. However, the company's mixed outlook for Q2 and the full year, along with multiple analysts lowering their price targets, has led to a negative market reaction. The lowered price targets indicate cautious sentiment among analysts, contributing to the stock's decline.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100