Zoom Video Communications Inc (NASDAQ:ZM) was the recipient of unusually large options trading activity on Friday. Investors purchased 423,113 call options on the company. This is an increase of 200% compared to the average volume of 141,037 call options.
NASDAQ:ZM traded up $22.60 during trading hours on Friday, hitting $559.00. The company had a trading volume of 13,745,750 shares, compared to its average volume of 10,433,496. The company has a market capitalization of $158.99 billion, a PE ratio of 716.67, a price-to-earnings-growth ratio of 9.67 and a beta of -1.24. The stock has a 50-day moving average price of $434.18 and a 200 day moving average price of $265.83. Zoom Video Communications has a 52 week low of $60.97 and a 52 week high of $565.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.73.
Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, August 31st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.47. The business had revenue of $663.50 million for the quarter, compared to analysts' expectations of $500.37 million. Zoom Video Communications had a net margin of 17.10% and a return on equity of 27.93%. The firm's revenue for the quarter was up 354.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. Analysts anticipate that Zoom Video Communications will post 1.59 EPS for the current fiscal year.
In related news, COO Aparna Bawa sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $244.12, for a total value of $1,830,900.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kimberly Hammonds sold 3,125 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $250.26, for a total transaction of $782,062.50. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at $782,062.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 257,217 shares of company stock worth $89,878,964. Insiders own 24.25% of the company's stock.
A number of large investors have recently added to or reduced their stakes in the stock. Avondale Wealth Management purchased a new position in Zoom Video Communications during the second quarter valued at $25,000. Cribstone Capital Management LLC purchased a new position in Zoom Video Communications during the second quarter valued at $25,000. CKW Financial Group purchased a new position in Zoom Video Communications during the second quarter valued at $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Zoom Video Communications by 257.1% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 125 shares of the company's stock valued at $32,000 after buying an additional 90 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its position in Zoom Video Communications by 80.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 135 shares of the company's stock valued at $34,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 37.97% of the company's stock.
A number of equities research analysts recently weighed in on ZM shares. Stephens reaffirmed a "neutral" rating and issued a $220.00 target price on shares of Zoom Video Communications in a research note on Monday, July 20th. Bank of America increased their price target on shares of Zoom Video Communications from $475.00 to $570.00 and gave the company a "buy" rating in a research report on Thursday. Goldman Sachs Group upgraded shares of Zoom Video Communications from a "sell" rating to a "neutral" rating and increased their price target for the company from $187.00 to $402.00 in a research report on Tuesday, September 1st. FBN Securities increased their price target on shares of Zoom Video Communications from $250.00 to $525.00 and gave the company an "outperform" rating in a research report on Tuesday, September 1st. Finally, Citigroup increased their price target on shares of Zoom Video Communications from $217.00 to $377.00 and gave the company a "neutral" rating in a research report on Tuesday, September 1st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of "Hold" and a consensus price target of $410.50.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
Further Reading: Recession
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8 Consumer Staples Stocks That Offer Good Value
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View the "8 Consumer Staples Stocks That Offer Good Value".