KeyBanc on Zoom Video (ZM): 'Results About in Line but Margin Outlook Weighed Down a Bit'

KeyBanc analyst Jackson Ader reiterated a Sector Weight rating on Zoom Video (NASDAQ: ZM).

The analyst commented: "Results About in Line but Margin Outlook Weighed Down a Bit; Some skinnier upside in Zoom's this quarter's top-line results than we've seen in recent quarters, although the bulk of the outperformance came from the right place: the enterprise. Bookings and billings were nicely ahead of our estimates, both on a total and current basis, with both phone and contact center holding their stronger trajectory than the core. Margins, however, were a disappointment, and the guidance for the rest of the year on non-GAAP EBIT is coming down due to hiring trends and some dilutive acquisitions. Not a bad quarter at all, but not a material change in either direction."

For an analyst ratings summary and ratings history on Zoom Video click here. For more ratings news on Zoom Video click here.

Shares of Zoom Video closed at $100.92 yesterday.

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