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