Zoom Video Communications (NASDAQ:ZM) Issues Q4 Earnings Guidance

Zoom Video Communications (NASDAQ:ZM) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $1.29-1.30 for the period, compared to the consensus earnings per share 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.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded up $3.15 during trading hours on Monday, reaching $89.03. The company had a trading volume of 16,328,885 shares, compared to its average volume of 3,297,217. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The firm has a market cap of $27.40 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 7.33 and a beta of -0.05. The business has a fifty day simple moving average of $73.43 and a 200 day simple moving average of $65.54.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZM. Morgan Stanley upped 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. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Benchmark lifted their price target on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America reduced their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.61.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 880 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total value of $165,479.60. Following the completion of the transaction, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at approximately $5,847,447.32. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 in the last three months. 10.78% of the stock is owned by corporate 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.