Will Zoom Video earnings beat in Q1 despite bearish Street view?
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Zoom Video Communications (NASDAQ:ZM) is scheduled to announce Q1 results on Monday, May 23, after market close.
Consensus EPS estimate is $0.88 (-33.3% Y/Y) and consensus revenue estimate is $1.07B (+11.9% Y/Y).
Over the last 2 years, ZM has beaten EPS estimates and revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 1 upward revision and 21 downward. Revenue estimates have seen 2 upward revisions and 17 downward.
Citi rated ZM Neutral, saying it faces "competitive headwinds" from Microsoft (MSFT) as Teams has the advantage of driving adoption via Office 365 upsell motion. It expects only "modest upside" and "limited raise" to outlook when ZM posts results.
Piper Sandler rated ZM Neutral, citing limited potential gains from services such as paid video and Zoom Phone. 
Meanwhile, Benchmark upgraded ZM to Buy, saying it still has room to grow, even if it's at a lower level. 
ZM edged lower after its Q4 earnings, while its outlook failed to impress amid scrutiny over how it will grow its business in the post-pandemic environment. ZM projected Q1 adj. EPS of $0.86-$0.88 and revenue of $1.07B-$1.075B.
Citi said its forecast could have been worse and noted that Q4 had the "smallest level of revenue upside to date". But Morgan Stanley said its platform can generate double-digit growth for multiple years.
SA contributor JR Research in a bearish analysis said the market has been pricing in further weakness in ZM's FY23 outlook but the stock still has a significant growth premium. 
Recent news:

ZM said it will acquire Solvvy, which delivers customer self-service experience powered by machine learning and AI.
ZM announced general availability of Zoom Whiteboard, which provides a unified solution for collaboration and creation in the Zoom platform.

ZM stock, which declined ~53% YTD, has underperformed the Nasdaq 100 Technology index in the last 1 year.