These Analysts Revise Their Forecasts On Zoom Video After Q2 Results

Zoom Video Communications, Inc. ZM posted better-than-expected reported second-quarter financial results on Wednesday.

Zoom reported quarterly earnings of $1.39 per share which beat the analyst consensus estimate of $1.21 by 14.88%. Quarterly revenue of $1.16 billion also beat the consensus estimate and is a 2.09% increase from the same period last year.

"In Q2, we outperformed our guidance across the board and grew operating cash flow and free cash flow by 33.7% and 26.2% year over year, respectively, demonstrating our continued commitment to efficient growth," said Eric S. Yuan, Zoom CEO.

Zoom sees third-quarter earnings per share between $1.29 and$1.31, versus the $1.24 estimate, and revenue in a range of $1.16 billion to $1.165 billion, versus the $1.16 billion estimate.

The company expects fiscal year 2025 earnings per share of between $5.29 and $5.32, versus the $5.05 estimate, and full-year revenue in a range of $4.63 billion to $4.64 billion, versus the $4.62 billion estimate.

Zoom Video shares gained 12.4% to trade at $67.69 on Thursday.

These analysts made changes to their price targets on Zoom Video following earnings announcement.

• B of A Securities analyst Nikolay Beliov maintained Zoom Video with a Neutral and lowered the price target from $78 to $75.
• Baird analyst William Power maintained Zoom Video with an Outperform and cut the price target from $84 to $77.
• Wells Fargo analyst Phil Winslow maintained the stock with an Underweight and raised the price target from $55 to $60.

Considering buying ZM stock? Here’s what analysts think:

Read More:

• Toll Brothers To Rally Around 19%? Here Are 10 Top Analyst Forecasts For Thursday