Zoom Video Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Zoom Video Communications, Inc. ZM is expected to release earnings results for its fiscal fourth quarter, after the closing bell on Feb. 26, 2024.

Analysts expect the company to report quarterly earnings at $1.15 per share, down from year-ago earnings of $1.22 per share. The company is projected to post revenue of $1.13 billion for the latest quarter, compared to $1.12 billion in the year-earlier quarter, according to data from Benzinga Pro.

Zoom was reported to slash about 150 jobs this week. The number of employees leaving the company, recognized for its videoconferencing software, is less than 2% of its total workforce, Bloomberg reported, citing a person familiar with the matter.

Zoom Video shares rose 2.1% to close at $63.40 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Exane BNP Paribas analyst Stefan Slowinski downgraded the stock from Neutral to Underperform with a price target of $60 on Jan. 18, 2024. This analyst has an accuracy rate of 72%.
• Piper Sandler analyst James Fish maintained a Neutral rating and raised the price target from $69 to $72 on Jan. 12, 2024. This analyst has an accuracy rate of 68%.
• Rosenblatt analyst Catherine Trebnick reiterated a Neutral rating with a price target of $75 on Nov. 21, 2023. This analyst has an accuracy rate of 73%.
• Barclays analyst Ryan Macwilliams maintained an Equal-Weight rating and cut the price target from $80 to $70 on Nov. 21, 2023. This analyst has an accuracy rate of 66%.
• Citigroup analyst Tyler Radke upgraded the stock from Sell to Neutral with a price target of $66 on Nov. 17, 2023. This analyst has an accuracy rate of 73%.

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