Zoom Video Communications (NASDAQ:ZM) Releases Earnings Results, Beats Estimates By $0.10 EPS

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Zoom Video Communications (NASDAQ:ZM) released its earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10, Briefing.com reports. The firm had revenue of $145.80 million for the quarter, compared to analysts’ expectations of $130.55 million. The business’s revenue for the quarter was up 95.7% on a year-over-year basis.

NASDAQ:ZM opened at $85.41 on Friday. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.06. Zoom Video Communications has a 12 month low of $59.94 and a 12 month high of $107.34. The stock has a 50-day moving average price of $93.73.

Several equities analysts have recently commented on ZM shares. Royal Bank of Canada boosted their price objective on Zoom Video Communications from $86.00 to $99.00 and gave the company a “sector perform” rating in a research report on Friday. KeyCorp started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued a “sector weight” rating on the stock. Oppenheimer started coverage on Zoom Video Communications in a report on Friday, May 24th. They issued a “market perform” rating on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $100.00 price target (up from $90.00) on shares of Zoom Video Communications in a report on Friday, June 7th. Finally, Stifel Nicolaus boosted their price target on Zoom Video Communications from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Zoom Video Communications currently has an average rating of “Hold” and an average price target of $89.47.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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