Zoom Video Communications (NASDAQ:ZM) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Zoom Video Communications (NASDAQ:ZM) issued its earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10, Briefing.com reports. The company had revenue of $145.80 million for the quarter, compared to analyst estimates of $130.55 million. The business’s quarterly revenue was up 95.7% on a year-over-year basis.

ZM opened at $85.41 on Friday. Zoom Video Communications has a one year low of $59.94 and a one year high of $107.34. The firm has a 50 day simple moving average of $93.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 4.46.

Several brokerages have recently weighed in on ZM. Wells Fargo & Co boosted their target price on Zoom Video Communications from $75.00 to $95.00 and gave the stock a “market perform” rating in a report on Friday. KeyCorp began coverage on Zoom Video Communications in a report on Monday, May 13th. They set a “sector weight” rating on the stock. CIBC began coverage on Zoom Video Communications in a report on Friday, May 24th. They set a “market perform” rating on the stock. Stephens restated an “overweight” rating and set a $115.00 target price on shares of Zoom Video Communications in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Zoom Video Communications from $113.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $89.47.

Zoom Video Communications Company Profile

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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