Zoom Video Communications (ZM) Announces Earnings Results

Zoom Video Communications (NASDAQ:ZM) announced its quarterly earnings data on Thursday. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04, Briefing.com reports. The firm had revenue of $122.00 million for the quarter, compared to analysts’ expectations of $111.66 million. The business’s quarterly revenue was up 103.1% on a year-over-year basis.

Shares of NASDAQ ZM opened at $79.43 on Friday. Zoom Video Communications has a 52 week low of $59.94 and a 52 week high of $91.46.

ZM has been the subject of a number of research analyst reports. Summit Insights initiated coverage on shares of Zoom Video Communications in a report on Monday, April 22nd. They issued a “sell” rating for the company. Sanford C. Bernstein initiated coverage on shares of Zoom Video Communications in a report on Monday, April 29th. They issued an “outperform” rating and a $45.00 price target for the company. Rosenblatt Securities initiated coverage on shares of Zoom Video Communications in a report on Tuesday, April 30th. They issued a “neutral” rating and a $60.00 price target for the company. Piper Jaffray Companies initiated coverage on shares of Zoom Video Communications in a report on Monday, May 13th. They issued an “overweight” rating and a $90.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Zoom Video Communications in a report on Monday, May 13th. They issued an “overweight” rating and a $113.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $77.59.

In related news, insider Janine Pelosi sold 81,668 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $36.00, for a total value of $2,940,048.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 583,787 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $36.00, for a total transaction of $21,016,332.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,405,918 shares of company stock worth $83,480,215.

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About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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