Zoom Video Communications (NASDAQ:ZM) Updates Q3 2022 Earnings Guidance

Zoom Video Communications (NASDAQ:ZM) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.070-$1.080 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.090. The company issued revenue guidance of $1.02 billion-$1.02 billion, compared to the consensus revenue estimate of $1.01 billion.Zoom Video Communications also updated its FY 2022 guidance to $4.750-$4.790 EPS.

Shares of ZM stock opened at $290.24 on Tuesday. The business’s 50-day moving average price is $350.71 and its 200-day moving average price is $341.08. Zoom Video Communications has a 12 month low of $273.20 and a 12 month high of $588.84. The firm has a market capitalization of $85.52 billion, a price-to-earnings ratio of 87.69, a PEG ratio of 5.49 and a beta of -1.53.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Sunday, August 29th. The company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.20. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.27 million. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The company’s revenue for the quarter was up 54.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. As a group, analysts forecast that Zoom Video Communications will post 3.3 EPS for the current year.

A number of equities research analysts have recently commented on the stock. upped their price objective on shares of Zoom Video Communications from $362.00 to $380.00 and gave the company a neutral rating in a research note on Wednesday, June 2nd. Morgan Stanley upgraded Zoom Video Communications from an equal weight rating to an overweight rating and increased their price target for the stock from $360.00 to $400.00 in a report on Thursday, August 26th. Citigroup dropped their price objective on Zoom Video Communications from $380.00 to $304.00 and set a neutral rating on the stock in a research note on Thursday, September 2nd. Needham & Company LLC set a $361.97 target price on Zoom Video Communications and gave the stock a hold rating in a report on Monday, July 19th. Finally, Bank of America dropped their price target on Zoom Video Communications from $480.00 to $385.00 and set a buy rating on the stock in a research note on Tuesday, August 31st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $401.14.

In other news, COO Aparna Bawa sold 2,593 shares of the stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $300.07, for a total transaction of $778,081.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 9,531 shares of the stock in a transaction on Monday, July 12th. The stock was sold at an average price of $384.30, for a total value of $3,662,763.30. The disclosure for this sale can be found here. Insiders have sold a total of 280,540 shares of company stock worth $103,423,668 over the last ninety days. Insiders own 12.27% of the company’s stock.

An institutional investor recently raised its position in Zoom Video Communications stock. Morgan Stanley lifted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,384,701 shares of the company’s stock after buying an additional 742,240 shares during the period. Zoom Video Communications makes up about 0.6% of Morgan Stanley’s investment portfolio, making the stock its 19th biggest position. Morgan Stanley owned approximately 4.20% of Zoom Video Communications worth $4,793,252,000 at the end of the most recent reporting period. 46.87% of the stock is currently owned by institutional investors.

About Zoom Video Communications

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

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Earnings History and Estimates for Zoom Video Communications (NASDAQ:ZM)

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