![]() "They're just kind of stamping it with the stay-at-home covid trade like Amazon or Netflix and are not really looking at the bigger fundamentals." "I think the Street is not filtering through all the tea leaves with Zoom," said Daniel Morgan, senior portfolio manager at Synovus Trust. Credit Suisse Chief Executive Officer Thomas Gottstein said he doesn't think banks will ever return to working full time from the office.Īll of that bodes well for Zoom, which unlike some pandemic darlings is still showing growth in its key metrics.Ĭompare that with Netflix, which wasn't able to sustain a flood of new customers during the pandemic and shocked Wall Street last month with its first decline in subscribers in over a decade.Īnalysts like Harrigan think Zoom's product offerings can make it a post-covid winner as more employees seek flexible work arrangements. Apple this month delayed a plan to require workers to come back to the office three days a week. Most major companies now offer employees the flexibility to work both from the office and from home, though even that has faced challenges because of rising covid-19 cases in many countries. Revenue was $1.07 billion in the period, which matched Street forecasts. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share. The results beat Wall Street expectations. Earnings, adjusted for one-time gains and costs, came to $1.03 per share. on Monday posted a fiscal first-quarter profit of $113.6 million, or 37 cents a share. "The fixation on Zoom as a Covid pandemic lockdown aberration is exaggerated as global tech and financial firms recognize the permanence of hybrid work," Harrigan said in a note to clients previewing first-quarter results released Monday afternoon. And with the stock having cratered almost 85% from its 2020 pandemic peak, wiping out about $135 billion of market value, they see scope for a rally. That's the message from Benchmark Co.'s Matthew Harrigan and other analysts, who say the videoconferencing company is well positioned as a hybrid work services provider after riding the stay-at-home boom. By comparison, the stated earnings for the previous quarter ended on were $1.29 per share as compared to estimates of $1.06 per share, a difference of $0.23 representing a surprise of 21.70%.The sell-off in Zoom Video Communications's stock may have gone too far. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.87/share, meaning a difference of $0.16 and a surprise factor of 18.40%. reported earnings per share of $1.03 for its fiscal quarter that ended on. ![]() However, for the 1st resistance point, the stock is sitting at 75.85, and for the 2nd resistance point, it is at 77.98. The company’s stock is currently sitting at 71.94 points at the first support level, and at 70.16 for the second support level. Analyzing the ZM fundamentalsīefore buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. shares were valued at $73.72 at the most recent close of the market. Through the last year, Zoom Video Communications Inc.’s stock price ranged from $71.69 to $291.31. In a note dated August 16, 2022, Citigroup downgraded an Sell rating on this stock but restated the target price of $91. BTIG Research downgraded its rating to Neutral for this stock on August 23, 2022. KeyBanc Capital Markets started tracking the stock assigning a Sector Weight rating. On September 22, 2022, MoffettNathanson initiated with a Sell rating and assigned a price target of $86 on the stock. Previously, Credit Suisse started tracking the stock with Neutral rating on September 23, 2022, and set its price target to $83. stock has seen the most recent analyst activity on October 07, 2022, when JP Morgan downgraded its rating to a Neutral and also revised its price target to $85 from $295. In a post published today on Yahoo Finance, Second quarter total revenue of $1,099.5 million, up 8% year over year. On 22, August 2022, Zoom Video Communications Reports Financial Results for the Second Quarter of Fiscal Year 2023. Sign up here to get your free report now. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest. While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well.
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