Zoom Video Communications (NASDAQ:ZM) Posts Earnings Results, Beats Expectations By $0.02 EPS

Zoom Video Communications (NASDAQ:ZM) posted its quarterly earnings results on Monday. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02, MarketWatch Earnings reports. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The firm’s revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share.

Zoom Video Communications stock traded up $0.54 during trading on Wednesday, reaching $207.18. The company had a trading volume of 277,395 shares, compared to its average volume of 4,191,418. Zoom Video Communications has a 52 week low of $195.80 and a 52 week high of $486.83. The firm’s 50-day simple moving average is $266.31 and its 200 day simple moving average is $318.43. The firm has a market capitalization of $61.56 billion, a price-to-earnings ratio of 62.43, a price-to-earnings-growth ratio of 3.58 and a beta of -1.28.

In related news, COO Aparna Bawa sold 2,593 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 2,354 shares of the business’s stock in a transaction on Tuesday, October 12th. The shares were sold at an average price of $255.27, for a total value of $600,905.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,697 shares of company stock worth $30,180,093. 12.27% of the stock is owned by insiders.

An institutional investor recently raised its position in Zoom Video Communications stock. Morgan Stanley grew its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,384,701 shares of the company’s stock after buying an additional 742,240 shares during the quarter. Zoom Video Communications accounts for 0.6% of Morgan Stanley’s holdings, making the stock its 19th largest holding. Morgan Stanley owned about 4.20% of Zoom Video Communications worth $4,793,252,000 at the end of the most recent quarter. Institutional investors own 46.51% of the company’s stock.

Several equities analysts have commented on ZM shares. JPMorgan Chase & Co. upgraded Zoom Video Communications from a “neutral” rating to an “overweight” rating and set a $385.00 price target on the stock in a report on Friday, October 22nd. UBS Group decreased their price target on shares of Zoom Video Communications from $315.00 to $285.00 and set a “neutral” rating on the stock in a research report on Friday, November 19th. Evercore ISI decreased their price target on shares of Zoom Video Communications from $255.00 to $235.00 and set an “in-line” rating on the stock in a research report on Tuesday. BTIG Research decreased their target price on shares of Zoom Video Communications from $460.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Zacks Investment Research downgraded shares of Zoom Video Communications from a “strong-buy” rating to a “sell” rating and set a $398.00 price target for the company. in a report on Thursday, August 5th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $335.29.

Zoom Video Communications Company Profile

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 for Zoom Video Communications (NASDAQ:ZM)

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