Analysts Issue Forecasts for Zoom Video Communications, Inc.’s Q3 2022 Earnings (NASDAQ:ZM)
Zoom Video Communications, Inc. (NASDAQ:ZM) – Investment analysts at William Blair issued their Q3 2022 earnings per share estimates for shares of Zoom Video Communications in a research report issued on Tuesday, August 31st. William Blair analyst M. Stotler forecasts that the company will post earnings per share of $0.71 for the quarter. William Blair also issued estimates for Zoom Video Communications’ Q4 2022 earnings at $0.66 EPS and FY2023 earnings at $2.99 EPS.
Other equities analysts also recently issued research reports about the company. Bank of America cut their price objective on Zoom Video Communications from $480.00 to $385.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus dropped their target price on Zoom Video Communications from $450.00 to $350.00 and set a “hold” rating for the company in a research report on Tuesday. Benchmark started coverage on Zoom Video Communications in a research report on Thursday, July 15th. They set a “hold” rating and a $360.61 target price for the company. Piper Sandler dropped their target price on Zoom Video Communications from $464.00 to $369.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Argus upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and set a $440.00 target price for the company in a research report on Thursday, June 10th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $401.14.
Shares of ZM opened at $295.09 on Friday. The stock has a fifty day moving average price of $363.30 and a two-hundred day moving average price of $347.43. Zoom Video Communications has a 52-week low of $273.20 and a 52-week high of $588.84. The company has a market cap of $86.95 billion, a price-to-earnings ratio of 101.76, a PEG ratio of 6.23 and a beta of -1.48. Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Sunday, August 29th. The company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.20. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.27 million. Zoom Video Communications had a return on equity of 36.26% and a net margin of 26.59%. Zoom Video Communications’s quarterly revenue was up 54.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 EPS.
In other Zoom Video Communications news, COO Aparna Bawa sold 11,125 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $296.13, for a total value of $3,294,446.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kimberly Hammonds sold 189 shares of the company’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $350.00, for a total value of $66,150.00. Following the completion of the sale, the director now owns 189 shares in the company, valued at approximately $66,150. The disclosure for this sale can be found here. Insiders have sold 322,024 shares of company stock worth $118,480,343 in the last quarter. 12.27% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Zoom Video Communications by 115.0% during the first quarter. First Horizon Advisors Inc. now owns 86 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares during the period. Lake Point Wealth Management acquired a new stake in Zoom Video Communications during the second quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in Zoom Video Communications during the first quarter worth approximately $31,000. Spectrum Management Group LLC acquired a new stake in Zoom Video Communications during the first quarter worth approximately $32,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Zoom Video Communications during the first quarter worth approximately $32,000. Institutional investors own 38.48% of the company’s stock.
About Zoom Video Communications
Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.
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