Zoom Video Communications Inc (NASDAQ:ZM) reported better-than-expected Q4 results, but issued guidance below analyst estimates.

Zoom said third-quarter revenue increased 5% year-over-year to $1.1 billion, which narrowly beat average analyst estimates. Zoom reported third-quarter earnings of $1.07 per share, which beat average analyst estimates of 84 cents per share.

Zoom said it expects fourth-quarter revenue to be between $1.095 billion and $1.105 billion versus average analyst estimates of $1.12 billion. The company expects full-year revenue to be between $4.37 billion and $4.38 billion versus estimates of $4.4 billion.

Zoom Video shares dipped 8.1% to $73.80 in pre-market trading.

These analysts made changes to their price targets on Zoom Video after the company released quarterly results.

• Piper Sandler cut price target on Zoom Video from $84 to $77. Piper Sandler analyst James Fish maintained a Neutral rating on the stock.
• Deutsche Bank lowered Zoom Video price target from $95 to $75. Deutsche Bank analyst Matthew Niknam maintained a Hold rating on the stock.
• Mizuho cut the price target on the stock from $120 to $100. Mizuho analyst Siti Panigrahi maintained the stock with a Buy.
• MoffettNathanson lowered Zoom Video price target from $85 to $80. MoffettNathanson analyst Sterling Auty maintained the stock with an Underperform.
• Morgan Stanley cut Zoom Video price target from $90 to $85. Morgan Stanley analyst Meta Marshall maintained an Equal-Weight rating on the stock.
• Wells Fargo slashed price target on Zoom Video from $95 to $80. Wells Fargo analyst Michael Turrin maintained the stock with an Equal-Weight.