Zoom Video Communications (NASDAQ:ZM) Issues Earnings Results

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Zoom Video Communications (NASDAQ:ZM) issued its quarterly earnings data on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.06, Briefing.com reports. The company had revenue of $166.60 million for the quarter, compared to analysts’ expectations of $156.23 million. Zoom Video Communications’s quarterly revenue was up 84.9% on a year-over-year basis. Zoom Video Communications updated its Q4 guidance to ~$0.07 EPS.

Zoom Video Communications stock traded down $6.86 during mid-day trading on Friday, reaching $63.10. The stock had a trading volume of 3,350,021 shares, compared to its average volume of 2,490,768. The company has a 50-day moving average price of $69.07 and a two-hundred day moving average price of $83.43. Zoom Video Communications has a one year low of $59.94 and a one year high of $107.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.00 and a current ratio of 4.00.

ZM has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price objective on shares of Zoom Video Communications to $75.00 and gave the company a “sector perform” rating in a research report on Friday. They noted that the move was a valuation call. Guggenheim started coverage on shares of Zoom Video Communications in a report on Friday, November 22nd. They set a “buy” rating and a $90.00 target price on the stock. Stephens restated an “overweight” rating and set a $115.00 target price on shares of Zoom Video Communications in a report on Thursday, August 22nd. Citigroup dropped their target price on shares of Zoom Video Communications from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Finally, Wells Fargo & Co boosted their target price on shares of Zoom Video Communications from $75.00 to $95.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $85.45.

In other news, CFO Kelly Steckelberg sold 11,067 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $69.90, for a total transaction of $773,583.30. Following the completion of the sale, the chief financial officer now owns 11,067 shares of the company’s stock, valued at approximately $773,583.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Janine Pelosi sold 6,196 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $65.77, for a total transaction of $407,510.92. In the last quarter, insiders sold 244,890 shares of company stock worth $16,881,574.

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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