Here's Why Zoom Video Communications Stock Dropped Today [Yahoo! Finance]
Zoom Video Communications, Inc. - Class A (ZM)
Last zoom video communications, inc. - class a earnings: 3/4 04:20 pm
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Source: Yahoo! Finance
Everything in the quarter was actually fine. But going into the report, Zoom stock was at a two-year high and had risen over 50% in just a few months. It seems that financial results weren't quite inspiring enough to keep investors from taking recent profits off of the table. And that's why Zoom stock was down about 8% as of 2:45 p.m. ET. Are You Missing The Morning Scoop? Wake up with Breakfast news in your inbox every market day. Sign Up For Free » To reiterate, Zoom's financial results beat expectations on both the top and bottom lines. Moreover, management even raised its full-year guidance. Previously its guidance was for revenue of $4.630 billion to $4.640 billion, whereas now the revenue guidance is modestly higher at $4.656 billion to $4.661 billion. Similarly, Zoom's management expects full-year adjusted earnings per share (EPS) of $5.41 to $5.43, whereas before it only expected adjusted EPS of $5.29 to $5.31. Beating and raising guidance is good. But consider that
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News
- Zoom Video Communications, Inc. (NASDAQ: ZM) was upgraded by analysts at Jefferies Financial Group Inc. from a "hold" rating to a "buy" rating. They now have a $100.00 price target on the stock, up previously from $85.00.MarketBeat
- Zoom Video Communications, Inc. (NASDAQ: ZM) had its price target raised by analysts at Morgan Stanley from $86.00 to $96.00. They now have an "equal weight" rating on the stock.MarketBeat
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ZM
Earnings
- 11/25/24 - Beat
ZM
Sec Filings
- 12/11/24 - Form 4
- 12/11/24 - Form 4
- 12/11/24 - Form 4/A
- ZM's page on the SEC website