Zoom is soaring after blowout earnings — Here’s what Wall Street analysts are saying to do now

Eric Yuan, founder and chief executive officer of Zoom Video Communications, at right, speaks with Jay Heller, head of capital markets & initial public offering execution of Nasdaq, during the company’s IPO at the Nasdaq MarketSite in New York on April 18, 2019.

Victor J. Blue | Bloomberg | Getty Images

(This story is for CNBC Pro subscribers only). 

Wall Street analysts praised Zoom Video after blowout results for the second quarter sent the video conferencing stock roaring higher. 

The work-from-home company that has become synonymous with video calls reported earnings of 92 cents per share on $663.5 million of revenue for the quarter, easily topping Wall Street expectations on both fronts. The stock was up more than 40% in premarket trading. 

JPMorgan, which already had an outperform rating on the stock, nearly doubled its price target after seeing the results. 

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