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.

Analyst Upgrades and Downgrades

ZM has been the topic of a number of recent analyst reports. Benchmark raised their price target on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley increased their price objective on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Bank of America reduced their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Friday. Finally, Wells Fargo & Company increased their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.61.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded up $3.42 during trading hours on Monday, hitting $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 12-month low of $55.06 and a 12-month high of $92.80. The business has a 50 day moving average price of $73.43 and a two-hundred day moving average price of $65.54. The company 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.

Insider Transactions at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 14,151 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $68.12, for a total transaction of $963,966.12. Following the completion of the sale, the chief financial officer now owns 140,427 shares in the company, valued at $9,565,887.24. This represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock worth $26,796,191 over the last 90 days. 10.78% of the stock is currently owned by company insiders.

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.