Zoom Video Communications (NASDAQ:ZM – Get Rating) released its quarterly earnings results on Monday. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.23, MarketWatch Earnings reports. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. Zoom Video Communications’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. Zoom Video Communications updated its Q4 guidance to $0.75-0.78 EPS.
Zoom Video Communications Stock Performance
Shares of Zoom Video Communications stock traded down $1.11 on Wednesday, reaching $76.04. The stock had a trading volume of 107,333 shares, compared to its average volume of 3,497,374. The business’s 50-day moving average price is $78.58 and its two-hundred day moving average price is $93.66. Zoom Video Communications has a fifty-two week low of $70.43 and a fifty-two week high of $235.97. The stock has a market cap of $22.63 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 3.13 and a beta of -0.29.
Insider Transactions at Zoom Video Communications
In other news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction on Saturday, October 8th. The shares were sold at an average price of $71.59, for a total value of $169,954.66. Following the completion of the sale, the insider now directly owns 15,869 shares in the company, valued at $1,136,061.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.24% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Zoom Video Communications
Wall Street Analyst Weigh In
ZM has been the subject of several research analyst reports. Benchmark reduced their target price on Zoom Video Communications from $118.00 to $102.00 in a research note on Tuesday. Credit Suisse Group began coverage on Zoom Video Communications in a research note on Friday, September 23rd. They set a “neutral” rating and a $83.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on Zoom Video Communications from $104.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday. Moffett Nathanson reduced their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “underperform” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Zoom Video Communications from $95.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $121.13.
Zoom Video Communications Company Profile
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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