Zoom Video Communications, Inc. (NASDAQ:ZM – Get Free Report) CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the sale, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at approximately $5,847,447.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Zoom Video Communications Price Performance
ZM stock traded down $0.05 during trading on Friday, reaching $67.18. 2,708,258 shares of the company were exchanged, compared to its average volume of 3,392,190. The company has a 50-day moving average of $60.70 and a two-hundred day moving average of $62.21. The company has a market capitalization of $20.68 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 5.98 and a beta of -0.05. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $74.82.
Zoom Video Communications (NASDAQ:ZM – Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. On average, analysts forecast that Zoom Video Communications, Inc. will post 2.69 EPS for the current year.
Hedge Funds Weigh In On Zoom Video Communications
Wall Street Analysts Forecast Growth
Several brokerages recently commented on ZM. Morgan Stanley reduced their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, May 21st. Wells Fargo & Company boosted their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Finally, Citigroup boosted their price objective on shares of Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.10.
Check Out Our Latest Stock Report on Zoom Video Communications
About Zoom Video Communications
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.
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