Zoom Video Communications (NASDAQ:ZM) Posts Earnings Results

Zoom Video Communications (NASDAQ:ZMGet Rating) issued its quarterly earnings data on Monday. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23, MarketWatch Earnings reports. Zoom Video Communications had a return on equity of 11.87% and a net margin of 23.05%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the business earned $0.72 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Zoom Video Communications updated its Q4 guidance to $0.75-0.78 EPS.

Zoom Video Communications Stock Down 1.7 %

Shares of ZM stock traded down $1.38 during trading on Monday, reaching $80.26. 5,839,519 shares of the company’s stock were exchanged, compared to its average volume of 4,706,311. The stock has a market capitalization of $23.89 billion, a PE ratio of 24.85, a PEG ratio of 3.19 and a beta of -0.29. Zoom Video Communications has a twelve month low of $70.43 and a twelve month high of $251.70. The firm’s fifty day moving average price is $78.62 and its 200-day moving average price is $93.79.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction that occurred on Saturday, October 8th. The stock was sold at an average price of $71.59, for a total transaction of $169,954.66. Following the transaction, the insider now directly owns 15,869 shares of the company’s stock, valued at approximately $1,136,061.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZM. Global Wealth Management Investment Advisory Inc. grew its holdings in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Neo Ivy Capital Management grew its holdings in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Covestor Ltd grew its holdings in Zoom Video Communications by 76.7% in the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after buying an additional 171 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Zoom Video Communications by 4.2% in the 1st quarter. Wealthfront Advisers LLC now owns 5,675 shares of the company’s stock valued at $665,000 after buying an additional 229 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in Zoom Video Communications by 3.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,556 shares of the company’s stock valued at $816,000 after buying an additional 236 shares in the last quarter. 52.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on ZM shares. Royal Bank of Canada lowered their target price on Zoom Video Communications from $150.00 to $130.00 in a research note on Tuesday, August 23rd. Robert W. Baird lowered their price objective on Zoom Video Communications from $125.00 to $100.00 in a research report on Friday. The Goldman Sachs Group lowered their price objective on Zoom Video Communications from $142.00 to $122.00 and set a “neutral” rating for the company in a research report on Tuesday, August 23rd. Citigroup lowered their price objective on Zoom Video Communications from $76.00 to $72.00 and set a “sell” rating for the company in a research report on Wednesday, November 16th. Finally, JPMorgan Chase & Co. lowered Zoom Video Communications from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $295.00 to $85.00 in a research report on Friday, October 7th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $125.67.

About Zoom Video Communications

(Get Rating)

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.

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Earnings History for Zoom Video Communications (NASDAQ:ZM)

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