Zoom Video Communications (ZM) Scheduled to Post Quarterly Earnings on Monday

Zoom Video Communications (NASDAQ:ZM) is set to issue its quarterly earnings data after the market closes on Monday, November 20th. Analysts expect the company to announce earnings of $1.08 per share for the quarter. Zoom Video Communications has set its Q3 guidance at $1.07-1.09 EPS and its FY24 guidance at $4.63-4.67 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, August 21st. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.28. Zoom Video Communications had a return on equity of 3.51% and a net margin of 3.17%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts expect Zoom Video Communications to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Zoom Video Communications Trading Up 2.3 %

NASDAQ ZM opened at $62.06 on Monday. The business’s 50 day moving average is $65.92 and its two-hundred day moving average is $67.06. Zoom Video Communications has a 12-month low of $58.87 and a 12-month high of $89.67. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 141.05, a PEG ratio of 1.04 and a beta of -0.16.

Insider Activity

In other news, CFO Kelly Steckelberg sold 10,960 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $68.29, for a total transaction of $748,458.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Kelly Steckelberg sold 10,960 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $68.29, for a total transaction of $748,458.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 1,586 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $70.69, for a total transaction of $112,114.34. Following the transaction, the insider now directly owns 58,306 shares in the company, valued at approximately $4,121,651.14. The disclosure for this sale can be found here. Insiders sold 157,375 shares of company stock worth $10,417,755 over the last ninety days. Corporate insiders own 11.28% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several large investors have recently modified their holdings of ZM. BlackRock Inc. lifted its holdings in Zoom Video Communications by 0.8% in the first quarter. BlackRock Inc. now owns 12,837,056 shares of the company’s stock worth $947,888,000 after acquiring an additional 104,955 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Zoom Video Communications by 61.0% in the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after acquiring an additional 2,444,294 shares during the last quarter. State Street Corp lifted its holdings in Zoom Video Communications by 3.0% in the second quarter. State Street Corp now owns 5,162,552 shares of the company’s stock worth $350,434,000 after acquiring an additional 151,854 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Zoom Video Communications by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,218,518 shares of the company’s stock worth $237,451,000 after acquiring an additional 40,454 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Zoom Video Communications by 12.4% in the first quarter. First Trust Advisors LP now owns 2,452,935 shares of the company’s stock worth $181,125,000 after acquiring an additional 270,970 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ZM. HSBC began coverage on Zoom Video Communications in a research note on Friday, September 15th. They set a “buy” rating and a $83.00 price target on the stock. Benchmark reissued a “buy” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, October 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, August 22nd. Robert W. Baird reduced their price target on Zoom Video Communications from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 22nd. Finally, Stifel Nicolaus reduced their price target on Zoom Video Communications from $75.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $81.55.

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.