Mizuho says Zoom Video Communications reported "solid" Q4 results with a sales and free cash flow beat. More importantly, the fiscal 2024 operating profit and earnings guidance came in meaningfully ahead of consensus expectations with Zoom’s revenue guidance of 1% year-over-year growth "appearing highly achievable," the analyst tells investors in a research note. The firm continues to believe fiscal 2024 "will be yet another transition year" for Zoom as the Online segment stabilization in fiscal Q2 should position the company well to reaccelerate growth in fiscal 2025. It reiterates a Buy rating on the shares with a $100 price target.
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