Will Zoom Video Stock 'Zoom' Higher After Reporting Q3 Earnings?

The remote working trend continues to benefit Zoom Video Communications ZM, which has staged a remarkable turnaround this year amid robust demand for its video platform. Zoom, a Zacks Rank #2 (Buy), has established a stellar track record in terms of surpassing earnings estimates. With ZM shares breaking out ahead of the upcoming announcement, is now the time to buy?Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Zoom is set to report third-quarter results on Monday after the bell. The Zacks Consensus Estimate calls for earnings of $1.31 per share, reflecting a 1.6% improvement relative to the same quarter last year. Sales are anticipated to have risen 2.34% to $1.16 billion during the third quarter.The communications platform hasn’t missed the earnings mark in several years. Zoom has delivered an average earnings surprise of 17.8% over the past four quarters.Zoom’s expanding international footprint is a major growth driver. The company maintains a strong balance sheet and generates significant cash flow.ZM stock trades relatively undervalued at just 14.7 times forward earnings. Our proprietary Zacks ESP indicator is not conclusively predicting another earnings beat. Keep in mind that stocks can be volatile in the aftermath of earnings announcements.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Zoom Video Communications, Inc. (ZM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks