Zoom performs above expectations (28/02/2024)
Zoom Video Communications Inc. reported adjusted earnings of $1.22 per share on revenue of $1.15 billion, while analysts surveyed by LSEG had expected earnings of just $1.15 on revenue of $1.13 billion.
Corporate clients increased by 3.5% over the year to 220.4k. In addition, the issuer announced a share buyback of $1.5 billion. Against this backdrop, Zoom shares began to rise as the company traded below the average values of many multiples.
So, today, we have decided to look at the Zoom Video Communications, Inc. (NASDAQ: ZM) stock chart.
On the D1 timeframe, support has shifted to 62.95, and resistance has been surpassed at 64.48. Also, yesterday, 27 February, a breakout of the descending channel appeared on the chart, signalling an upward shift in the trend.
On the H1 timeframe, a rebound from the 64.48 level could set a short-term target for a price increase at 74.64, while in the medium term, it could hover around 80.88.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Corporate clients increased by 3.5% over the year to 220.4k. In addition, the issuer announced a share buyback of $1.5 billion. Against this backdrop, Zoom shares began to rise as the company traded below the average values of many multiples.
So, today, we have decided to look at the Zoom Video Communications, Inc. (NASDAQ: ZM) stock chart.
On the D1 timeframe, support has shifted to 62.95, and resistance has been surpassed at 64.48. Also, yesterday, 27 February, a breakout of the descending channel appeared on the chart, signalling an upward shift in the trend.
On the H1 timeframe, a rebound from the 64.48 level could set a short-term target for a price increase at 74.64, while in the medium term, it could hover around 80.88.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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