Zoom Stock – Zoom Video Communications, Inc. Forecasted to Post Q1 2022 Earnings of $0.61 Per Share (NASDAQ:ZM)
Zoom Video Communications, Inc. (NASDAQ:ZM) – Investment analysts at DA Davidson issued their Q1 2022 EPS estimates for shares of Zoom Video Communications in a research report issued to clients and investors on Wednesday, May 5th. DA Davidson analyst R. Rigby anticipates that the company will post earnings of $0.61 per share for the quarter. DA Davidson currently has a “Buy” rating on the stock. DA Davidson also issued estimates for Zoom Video Communications’ FY2022 earnings at $2.15 EPS and FY2023 earnings at $2.35 EPS.
A number of other research firms also recently weighed in on ZM. Wolfe Research began coverage on shares of Zoom Video Communications in a research report on Friday, April 23rd. They issued an “outperform” rating and a $390.00 target price for the company. Rosenblatt Securities boosted their price target on Zoom Video Communications from $350.00 to $400.00 and gave the company a “neutral” rating in a research note on Monday, March 8th. Morgan Stanley upped their target price on Zoom Video Communications from $390.00 to $420.00 and gave the company an “equal weight” rating in a research report on Monday, March 8th. Zacks Investment Research cut Zoom Video Communications from a “buy” rating to a “hold” rating and set a $354.00 target price on the stock. in a research report on Monday, March 8th. Finally, Daiwa Capital Markets assumed coverage on Zoom Video Communications in a report on Wednesday, March 31st. They set a “sell” rating and a $250.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $428.81.
Shares of ZM stock traded up $10.36 during trading hours on Friday, hitting $303.41. 42,997 shares of the company were exchanged, compared to its average volume of 4,735,345. The business has a 50 day moving average of $324.69 and a two-hundred day moving average of $385.28. Zoom Video Communications has a 52 week low of $149.16 and a 52 week high of $588.84. The company has a market capitalization of $89.12 billion, a PE ratio of 383.64, a PEG ratio of 12.42 and a beta of -1.46. Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Sunday, February 28th. The company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.43. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The firm had revenue of $882.49 million during the quarter, compared to analysts’ expectations of $810.97 million. During the same period in the previous year, the business posted $0.15 EPS. The company’s quarterly revenue was up 368.8% compared to the same quarter last year.
In other news, Director Daniel Scheinman sold 167,466 shares of the firm’s stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $363.68, for a total value of $60,904,034.88. Following the completion of the sale, the director now owns 150,000 shares in the company, valued at approximately $54,552,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 80,529 shares of the business’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $347.97, for a total value of $28,021,676.13. Following the transaction, the chief executive officer now owns 11,545 shares of the company’s stock, valued at approximately $4,017,313.65. The disclosure for this sale can be found here. Insiders have sold 416,981 shares of company stock worth $144,655,835 in the last ninety days. Insiders own 24.25% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ZM. BlackRock Inc. raised its holdings in shares of Zoom Video Communications by 20.2% in the fourth quarter. BlackRock Inc. now owns 10,716,200 shares of the company’s stock worth $3,614,789,000 after buying an additional 1,804,237 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Zoom Video Communications by 22.6% in the 1st quarter. Baillie Gifford & Co. now owns 8,100,660 shares of the company’s stock valued at $2,602,661,000 after purchasing an additional 1,495,639 shares during the period. price T Rowe Associates Inc. MD raised its position in shares of Zoom Video Communications by 20.9% in the fourth quarter. price T Rowe Associates Inc. MD now owns 3,573,152 shares of the company’s stock worth $1,205,296,000 after acquiring an additional 616,991 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Zoom Video Communications by 76.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,859,881 shares of the company’s stock worth $597,561,000 after purchasing an additional 807,267 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Zoom Video Communications by 16.4% in the 4th quarter. First Trust Advisors LP now owns 1,453,215 shares of the company’s stock valued at $490,198,000 after acquiring an additional 205,186 shares during the period. 37.97% of the stock is owned by institutional investors.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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