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

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

Shares of Zoom Video Communications stock traded up $4.59 during trading on Wednesday, hitting $98.93. The stock had a trading volume of 156,836 shares, compared to its average volume of 4,895,719. The business has a fifty day moving average of $105.65 and a two-hundred day moving average of $147.85. The firm has a market cap of $29.59 billion, a P/E ratio of 21.01, a PEG ratio of 3.38 and a beta of -0.66. Zoom Video Communications has a fifty-two week low of $79.03 and a fifty-two week high of $406.48.

In other Zoom Video Communications news, CEO Eric S. Yuan sold 15,625 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $109.43, for a total value of $1,709,843.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 2,404 shares of Zoom Video Communications stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $95.04, for a total value of $228,476.16. Following the completion of the sale, the chief operating officer now directly owns 84,260 shares in the company, valued at approximately $8,008,070.40. The disclosure for this sale can be found here. Insiders have sold 56,534 shares of company stock worth $6,270,060 over the last three months. 11.24% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in Zoom Video Communications by 61.0% during the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after acquiring an additional 2,444,294 shares during the last quarter. Morgan Stanley raised its holdings in shares of Zoom Video Communications by 6.4% in the 2nd quarter. Morgan Stanley now owns 12,384,701 shares of the company’s stock worth $4,793,252,000 after acquiring an additional 742,240 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Zoom Video Communications by 113.7% in the 4th quarter. Deutsche Bank AG now owns 726,710 shares of the company’s stock worth $133,649,000 after acquiring an additional 386,594 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Zoom Video Communications in the 1st quarter worth about $19,232,000. Finally, Federated Hermes Inc. raised its holdings in shares of Zoom Video Communications by 10,456.3% in the 1st quarter. Federated Hermes Inc. now owns 83,289 shares of the company’s stock worth $9,764,000 after acquiring an additional 82,500 shares during the last quarter. Institutional investors own 55.94% of the company’s stock.

Several equities research analysts have recently commented on the stock. Citigroup decreased their target price on shares of Zoom Video Communications from $118.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday. BNP Paribas began coverage on shares of Zoom Video Communications in a research report on Tuesday, March 29th. They set a “neutral” rating and a $110.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Zoom Video Communications from $145.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 15th. UBS Group reduced their price objective on shares of Zoom Video Communications from $130.00 to $100.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Finally, Zacks Investment Research raised shares of Zoom Video Communications from a “sell” rating to a “hold” rating and set a $99.00 price objective for the company in a research report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average 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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