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. It also provides Zoom Rooms, a software-based conference room system; Zoom Hardware-as-a-Service allows users to access video communication technology from third party equipment; Zoom Conference Room Connector, a gateway for SIP/H.323 endpoints to join Zoom meetings; Zoom Events, which enables users to manage and host internal and external virtual events; OnZoom, a prosumer-focused virtual event platform and marketplace for Zoom users to create, host, and monetize online events; and Zoom Webinars to provide video presentations to large audiences from many devices. In addition, the company offers Zoom Developer Platform that enables developers, platform integrators, service providers, and customers to build apps and integrations using Zoom's video-based communications solutions, as well as integrate Zoom's technology into their products and services; Zoom App Marketplace, which helps developers to publish their apps, as well as third-party integrations of Zoom; and Zoom Contact Center, an omnichannel contact center solution. It serves individuals; and education, entertainment/media, enterprise infrastructure, finance, government, healthcare, manufacturing, non-profit/not for profit and social impact, retail/consumer products, and software/Internet industries. The company was formerly known as Zoom Communications, Inc. and changed its name to Zoom Video Communications, Inc. in May 2012. The company was incorporated in 2011 and is headquartered in San Jose, California.
Analyst Ratings Changes
ZM has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price target on Zoom Video Communications from $163.00 to $142.00 and set a "neutral" rating for the company in a report on Tuesday, May 24th. Royal Bank of Canada lowered their price target on shares of Zoom Video Communications from $200.00 to $150.00 in a report on Tuesday, May 24th. BTIG Research decreased their price objective on shares of Zoom Video Communications from $180.00 to $150.00 in a research report on Friday, May 13th. Citigroup lowered shares of Zoom Video Communications from a "neutral" rating to a "sell" rating and set a $91.00 target price on the stock. in a research note on Tuesday. Finally, UBS Group cut their price target on Zoom Video Communications from $130.00 to $100.00 and set a "na" rating for the company in a research note on Wednesday, May 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $160.34.
Zoom Video Communications Price Performance
Zoom Video Communications stock opened at $103.18 on Friday. The firm has a 50 day simple moving average of $109.47 and a 200-day simple moving average of $111.93. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 4.47 and a beta of -0.61. Zoom Video Communications has a 1-year low of $79.03 and a 1-year high of $357.93.
Zoom Video Communications (NASDAQ:ZM - Get Rating) last posted its earnings results on Monday, May 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.12. Zoom Video Communications had a return on equity of 16.56% and a net margin of 29.91%. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. Equities analysts expect that Zoom Video Communications will post 1.75 earnings per share for the current fiscal year.
Insider Buying and Selling at Zoom Video Communications
In related news, COO Aparna Bawa sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $116.62, for a total transaction of $233,240.00. Following the completion of the transaction, the chief operating officer now owns 77,676 shares of the company's stock, valued at approximately $9,058,575.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Aparna Bawa sold 2,000 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $116.62, for a total transaction of $233,240.00. Following the transaction, the chief operating officer now owns 77,676 shares of the company's stock, valued at approximately $9,058,575.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $112.04, for a total value of $750,668.00. The disclosure for this sale can be found here. Insiders have sold 56,923 shares of company stock valued at $6,052,790 over the last 90 days. 11.24% of the stock is owned by insiders.
