What's Happened To Zoom Stock Tuesday?

Zoom Video Communications, Inc. ZM shares fell Tuesday. The company reported second-quarter earnings on Monday and had its price target adjusted by several analysts on Tuesday.

What To Know: On Monday, Zoom reported quarterly earnings of $1.34 per share which beat the analyst consensus estimate of $1.05, a 27.62% increase over earnings of $1.05 per share from the same period last year. The company reported quarterly sales of $1.14 billion which beat the analyst consensus estimate of $1.11 billion, a 3.61% increase over sales of $1.10 billion the same period last year. '

The company issued third-quarter earnings per share guidance in a range between $1.07 and $1.09, versus the $1.03 estimate. Total revenue is anticipated to be between $1.115 billion and $1.12 billion, versus the $1.13 billion estimate.

Zoom also estimated full-year 2024 earnings per share between $4.63 and $4.67, versus the $4.30 estimate. Total revenue is estimated between $4.485 billion and $4.495 billion, versus the $4.48 billion estimate.

On Tuesday, several analysts adjusted their price targets on Zoom, ranging from $66 to $100.

Related Link: Why Hasbro Stock Popped Today

ZM Price Action: Shares of ZM closed down 2.14%, according to Benzinga Pro.

Image by Biljana Jovanovic from Pixabay

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsMoverswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!