Zoom Video Communications (NASDAQ:ZM) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Zoom Video Communications (NASDAQ:ZM – Get Rating) posted its quarterly earnings results on Monday. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.15, Briefing.com reports. Zoom Video Communications had a return on equity of 21.17% and a net margin of 33.54%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $0.97 EPS. Zoom Video Communications’s revenue for the quarter was up 12.3% compared to the same quarter last year.

Shares of ZM stock opened at $93.40 on Wednesday. The company has a market cap of $27.94 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 3.38 and a beta of -0.66. Zoom Video Communications has a 1 year low of $79.03 and a 1 year high of $406.48. The stock’s 50 day simple moving average is $105.65 and its two-hundred day simple moving average is $147.85.

In other Zoom Video Communications news, COO Aparna Bawa sold 3,449 shares of the business’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $118.64, for a total value of $409,189.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 15,625 shares of the business’s stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $109.43, for a total transaction of $1,709,843.75. The disclosure for this sale can be found here. Insiders sold a total of 56,534 shares of company stock valued at $6,270,060 over the last ninety days. Corporate insiders own 11.24% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Toroso Investments LLC raised its holdings in shares of Zoom Video Communications by 10.4% in the 1st quarter. Toroso Investments LLC now owns 8,121 shares of the company’s stock valued at $952,000 after purchasing an additional 767 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of Zoom Video Communications by 4.2% during the 1st quarter. Wealthfront Advisers LLC now owns 5,675 shares of the company’s stock worth $665,000 after acquiring an additional 229 shares in the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in shares of Zoom Video Communications during the 1st quarter worth approximately $8,586,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Finally, Lido Advisors LLC raised its stake in shares of Zoom Video Communications by 33.3% during the 1st quarter. Lido Advisors LLC now owns 3,569 shares of the company’s stock worth $418,000 after acquiring an additional 891 shares in the last quarter. Institutional investors and hedge funds own 55.94% of the company’s stock.

Several equities analysts recently issued reports on ZM shares. Mizuho reduced their price target on Zoom Video Communications from $300.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. BTIG Research reduced their price target on Zoom Video Communications from $180.00 to $150.00 in a research report on Friday, May 13th. Royal Bank of Canada dropped their price objective on Zoom Video Communications from $200.00 to $150.00 in a report on Tuesday. The Goldman Sachs Group dropped their price objective on Zoom Video Communications from $163.00 to $142.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, TheStreet upgraded Zoom Video Communications from a “d” rating to a “c” rating in a report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus target price of $178.58.

Zoom Video Communications Company Profile (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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