S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13

Q1 2023 EPS Estimates for Zoom Video Communications, Inc. Cut by Analyst (NASDAQ:ZM)

Thursday, November 25, 2021 | MarketBeat

Zoom Video Communications, Inc. (NASDAQ:ZM) - Research analysts at KeyCorp lowered their Q1 2023 earnings per share (EPS) estimates for Zoom Video Communications in a note issued to investors on Monday, November 22nd. KeyCorp analyst S. Enders now anticipates that the company will post earnings of $0.56 per share for the quarter, down from their previous forecast of $0.64. KeyCorp currently has a "Buy" rating and a $398.00 target price on the stock. KeyCorp also issued estimates for Zoom Video Communications' Q2 2023 earnings at $0.57 EPS and Q3 2023 earnings at $0.56 EPS.

Several other research firms have also recently issued reports on ZM. Piper Sandler cut their target price on Zoom Video Communications from $369.00 to $299.00 and set an "overweight" rating for the company in a research report on Tuesday. Royal Bank of Canada set a $450.00 target price on Zoom Video Communications in a research report on Tuesday, August 31st. Guggenheim reiterated a "buy" rating on shares of Zoom Video Communications in a research report on Monday, November 1st. Deutsche Bank Aktiengesellschaft cut their target price on Zoom Video Communications from $350.00 to $280.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, Robert W. Baird increased their target price on Zoom Video Communications from $300.00 to $335.00 and gave the stock an "outperform" rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $335.29.

Shares of ZM opened at $208.30 on Thursday. The business has a 50-day simple moving average of $264.89 and a two-hundred day simple moving average of $317.66. The stock has a market cap of $61.89 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 3.58 and a beta of -1.28. Zoom Video Communications has a 52 week low of $195.80 and a 52 week high of $486.83. Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, November 22nd. The company reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.02. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.02 billion. Zoom Video Communications had a return on equity of 29.83% and a net margin of 27.58%. The business's quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share.

Several institutional investors have recently bought and sold shares of the company. First Mercantile Trust Co. boosted its position in shares of Zoom Video Communications by 16.0% in the 3rd quarter. First Mercantile Trust Co. now owns 7,102 shares of the company's stock worth $1,857,000 after purchasing an additional 982 shares in the last quarter. Comerica Bank lifted its position in Zoom Video Communications by 45.5% during the 3rd quarter. Comerica Bank now owns 15,252 shares of the company's stock worth $4,808,000 after acquiring an additional 4,767 shares during the period. American International Group Inc. lifted its position in Zoom Video Communications by 1.7% during the 3rd quarter. American International Group Inc. now owns 15,080 shares of the company's stock worth $3,943,000 after acquiring an additional 251 shares during the period. Gyon Technologies Capital Management LP lifted its position in Zoom Video Communications by 73.8% during the 3rd quarter. Gyon Technologies Capital Management LP now owns 10,026 shares of the company's stock worth $2,622,000 after acquiring an additional 4,258 shares during the period. Finally, Mint Tower Capital Management B.V. acquired a new stake in Zoom Video Communications during the 3rd quarter worth about $112,000. 46.51% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Velchamy Sankarlingam sold 2,354 shares of Zoom Video Communications stock in a transaction on Tuesday, October 12th. The stock was sold at an average price of $255.27, for a total value of $600,905.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction on Monday, October 4th. The shares were sold at an average price of $255.65, for a total value of $1,712,855.00. The disclosure for this sale can be found here. Insiders have sold a total of 109,697 shares of company stock worth $30,180,093 over the last 90 days. 12.27% of the stock is currently owned by company insiders.

Zoom Video Communications Company Profile

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.

See Also: Holder of Record

Earnings History and Estimates for Zoom Video Communications (NASDAQ:ZM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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