Zoom Video Communications (NASDAQ:ZM) Releases Q4 Earnings Guidance

Zoom Video Communications (NASDAQ:ZM) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.29-1.30 for the period, compared to the consensus estimate of $1.28. The company issued revenue guidance of $1.175-1.180 billion, compared to the consensus revenue estimate of $1.17 billion.

Zoom Video Communications Stock Performance

NASDAQ:ZM traded up $3.42 on Monday, reaching $89.30. The company’s stock had a trading volume of 10,525,387 shares, compared to its average volume of 3,276,479. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The business’s 50-day moving average price is $73.43 and its two-hundred day moving average price is $65.54. The firm has a market cap of $27.49 billion, a PE ratio of 33.18, a PEG ratio of 7.33 and a beta of -0.05.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZM. Wedbush initiated coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Benchmark boosted their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.61.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Shane Crehan sold 1,550 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at approximately $97,830.81. This represents a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock worth $26,796,191 over the last quarter. 10.78% of the stock is owned by corporate insiders.

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.