Zoom Video Communications, Inc. ZM is a cloud-native unified communications platform combining video, audio, phone, screen sharing and chat functionalities that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ZM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Zoom Video could be a solid choice for investors.
Current Quarter Estimates for ZM
In the past 30 days, eight estimates have gone higher for Zoom Video while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from 36 cents a share 30 days ago, to 75 cents per share today, a significant move.
Current Year Estimates for ZM
Meanwhile, Zoom Video’s current year figures are also looking quite promising, with nine estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.27 per share 30 days ago to $2.26 per share today, an increase of 78%.
The stock has also started to move higher lately, adding 54.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
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Zoom Video Communications, Inc. (ZM): Free Stock Analysis Report
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