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Zoom Video Communications (ZM) Stock Moves -0.81%: What You Should Know
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Zoom Video Communications (ZM - Free Report) closed the latest trading day at $58.49, indicating a -0.81% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 1.84%. Elsewhere, the Dow saw a downswing of 1.51%, while the tech-heavy Nasdaq depreciated by 2.43%.
The the stock of video-conferencing company has risen by 0.58% in the past month, leading the Computer and Technology sector's loss of 5.83% and the S&P 500's loss of 0.43%.
Market participants will be closely following the financial results of Zoom Video Communications in its upcoming release. The company plans to announce its earnings on August 21, 2024. The company's upcoming EPS is projected at $1.21, signifying a 9.7% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.15 billion, indicating a 0.85% upward movement from the same quarter last year.
ZM's full-year Zacks Consensus Estimates are calling for earnings of $5.05 per share and revenue of $4.62 billion. These results would represent year-over-year changes of -3.07% and +1.96%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Zoom Video Communications. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.04% rise in the Zacks Consensus EPS estimate. As of now, Zoom Video Communications holds a Zacks Rank of #2 (Buy).
Digging into valuation, Zoom Video Communications currently has a Forward P/E ratio of 11.69. For comparison, its industry has an average Forward P/E of 31.02, which means Zoom Video Communications is trading at a discount to the group.
It is also worth noting that ZM currently has a PEG ratio of 4.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.75 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ZM in the coming trading sessions, be sure to utilize Zacks.com.
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Zoom Video Communications (ZM) Stock Moves -0.81%: What You Should Know
Zoom Video Communications (ZM - Free Report) closed the latest trading day at $58.49, indicating a -0.81% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 1.84%. Elsewhere, the Dow saw a downswing of 1.51%, while the tech-heavy Nasdaq depreciated by 2.43%.
The the stock of video-conferencing company has risen by 0.58% in the past month, leading the Computer and Technology sector's loss of 5.83% and the S&P 500's loss of 0.43%.
Market participants will be closely following the financial results of Zoom Video Communications in its upcoming release. The company plans to announce its earnings on August 21, 2024. The company's upcoming EPS is projected at $1.21, signifying a 9.7% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.15 billion, indicating a 0.85% upward movement from the same quarter last year.
ZM's full-year Zacks Consensus Estimates are calling for earnings of $5.05 per share and revenue of $4.62 billion. These results would represent year-over-year changes of -3.07% and +1.96%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Zoom Video Communications. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.04% rise in the Zacks Consensus EPS estimate. As of now, Zoom Video Communications holds a Zacks Rank of #2 (Buy).
Digging into valuation, Zoom Video Communications currently has a Forward P/E ratio of 11.69. For comparison, its industry has an average Forward P/E of 31.02, which means Zoom Video Communications is trading at a discount to the group.
It is also worth noting that ZM currently has a PEG ratio of 4.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.75 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ZM in the coming trading sessions, be sure to utilize Zacks.com.