Zoom Video Communications (ZM) Set to Announce Earnings on Monday

Zoom Video Communications (NASDAQ:ZM) is set to post its quarterly earnings results after the market closes on Monday, November 20th. Analysts expect Zoom Video Communications to post 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 are interested in registering for 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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company’s revenue for the quarter 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 1.1 %

NASDAQ:ZM opened at $64.12 on Friday. The business’s fifty day moving average price is $64.94 and its 200 day moving average price is $67.04. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 145.73, a PEG ratio of 1.07 and a beta of -0.16. Zoom Video Communications has a 1-year low of $58.87 and a 1-year high of $85.13.

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 13,268 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $69.36, for a total transaction of $920,268.48. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at $137,194.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Aparna Bawa sold 13,268 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $69.36, for a total value of $920,268.48. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $137,194.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 1,586 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $70.69, for a total value of $112,114.34. Following the completion of the transaction, the insider now owns 58,306 shares in the company, valued at approximately $4,121,651.14. The disclosure for this sale can be found here. Insiders have sold 157,375 shares of company stock worth $10,417,755 over the last three months. Company insiders own 11.28% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of hedge funds have recently modified their holdings of ZM. Creative Planning raised its position in Zoom Video Communications by 12.2% in the 3rd quarter. Creative Planning now owns 29,476 shares of the company’s stock valued at $2,062,000 after buying an additional 3,195 shares during the last quarter. Harbour Investments Inc. raised its position in Zoom Video Communications by 7.4% in the 3rd quarter. Harbour Investments Inc. now owns 2,535 shares of the company’s stock valued at $177,000 after buying an additional 175 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Zoom Video Communications by 60.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 18,822 shares of the company’s stock valued at $1,316,000 after buying an additional 7,089 shares during the last quarter. Sei Investments Co. raised its position in Zoom Video Communications by 265.1% in the 3rd quarter. Sei Investments Co. now owns 82,860 shares of the company’s stock valued at $5,796,000 after buying an additional 60,167 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Zoom Video Communications by 12.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 38,890 shares of the company’s stock valued at $2,720,000 after buying an additional 4,431 shares during the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ZM shares. Sanford C. Bernstein dropped their target price on Zoom Video Communications from $92.00 to $82.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 22nd. Mizuho reiterated a “buy” rating and issued a $100.00 target price on shares of Zoom Video Communications in a research note on Tuesday, August 22nd. Stifel Nicolaus dropped their price target on shares of 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. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, August 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Zoom Video Communications from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 22nd. Seventeen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus target price 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.