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 EPS guidance of $1.13-1.15 for the period, compared to the consensus EPS estimate of $1.09. The company issued revenue guidance of $1.125-1.130 billion, compared to the consensus revenue estimate of $1.13 billion.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded up $1.88 during trading hours on Monday, hitting $66.00. The company’s stock had a trading volume of 8,026,211 shares, compared to its average volume of 3,704,711. Zoom Video Communications has a 12-month low of $58.87 and a 12-month high of $85.13. The business has a 50 day moving average price of $64.94 and a two-hundred day moving average price of $67.12. The company has a market cap of $19.86 billion, a PE ratio of 145.73, a PEG ratio of 1.07 and a beta of -0.16.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, August 21st. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.06 by $0.28. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, research analysts anticipate that Zoom Video Communications will post 1.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of Zoom Video Communications from $95.00 to $90.00 and set an outperform rating for the company in a report on Tuesday, August 22nd. HSBC initiated coverage on Zoom Video Communications in a research report on Friday, September 15th. They set a buy rating and a $83.00 target price on the stock. Stifel Nicolaus dropped their price objective on shares of Zoom Video Communications from $75.00 to $70.00 and set a hold rating for the company in a research note on Wednesday, October 4th. Rosenblatt Securities reissued a neutral rating and issued a $75.00 target price on shares of Zoom Video Communications in a research note on Wednesday, November 15th. Finally, Mizuho reaffirmed a buy rating and set a $100.00 price target on shares of Zoom Video Communications in a research note on Tuesday, August 22nd. Seventeen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of Hold and a consensus price target of $81.55.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 11,208 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $59.87, for a total value of $671,022.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Eric S. Yuan sold 11,208 shares of Zoom Video Communications stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $59.87, for a total value of $671,022.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Steckelberg sold 10,960 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $59.73, for a total value of $654,640.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,375 shares of company stock valued at $10,417,755. 11.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Money Concepts Capital Corp increased its stake in shares of Zoom Video Communications by 821.2% in the 4th quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock worth $32,000 after acquiring an additional 427 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Neo Ivy Capital Management increased its position in Zoom Video Communications by 56.8% during the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Covestor Ltd raised its stake in Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company’s stock worth $46,000 after purchasing an additional 171 shares during the period. Finally, Covington Capital Management boosted its holdings in Zoom Video Communications by 40.3% in the 3rd quarter. Covington Capital Management now owns 992 shares of the company’s stock valued at $73,000 after purchasing an additional 285 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.