In this video, I will be going over Zoom Video's (ZM 0.05%) recent earnings report as well as talking about Cathie Wood's Ark Invest 2026 price target on the company and whether that is still on track.
- The stock is still the No. 1 position in the Ark Innovation ETF (ARKK 0.07%).
- Ark Invest predicts that Zoom stock could reach $1,500 per share by 2026.
- The company said that it now has over 4 million Zoom Phone seats. Last quarter that number was 3 million.
- Revenue for the quarter increased 8% year over year (YOY) to $1.09 billion.
- The number of enterprise customers grew 18% YOY to 204,100, and the number of customers that are contributing more than $100,000 in trailing-12-month revenue increased 37% to 3,116.
- Zoom is still profitable, with operating cash flow of $257 million and an operating margin of 23.4%.
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*Stock prices used were the closing prices of Aug. 22, 2022. The video was published on Aug. 23, 2022.
