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.
Zoom Video Communications Stock Performance
NASDAQ:ZM opened at $102.38 on Thursday. The stock has a fifty day moving average price of $109.62 and a 200-day moving average price of $112.28. The company has a market cap of $30.55 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 4.47 and a beta of -0.61. Zoom Video Communications has a fifty-two week low of $79.03 and a fifty-two week 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 EPS for the quarter, beating the consensus estimate of $0.35 by $0.12. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Zoom Video Communications had a return on equity of 16.56% and a net margin of 29.91%. The business's quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. Research analysts predict that Zoom Video Communications will post 1.75 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have issued reports on ZM shares. Barclays cut their price objective on Zoom Video Communications from $150.00 to $90.00 and set an "equal weight" rating for the company in a report on Thursday, May 19th. Benchmark lifted their price objective on Zoom Video Communications from $124.00 to $128.00 and gave the stock a "buy" rating in a research report on Tuesday, May 24th. UBS Group lowered their price objective on Zoom Video Communications from $130.00 to $100.00 and set a "na" rating for the company in a research report on Wednesday, May 18th. BTIG Research decreased their target price on Zoom Video Communications from $180.00 to $150.00 in a research report on Friday, May 13th. Finally, Guggenheim decreased their target price on Zoom Video Communications to $130.00 in a research report on Wednesday, May 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $160.34.
Insider Buying and Selling
In related news, COO Aparna Bawa sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $109.14, for a total transaction of $262,372.56. Following the completion of the sale, the chief operating officer now owns 70,531 shares of the company's stock, valued at $7,697,753.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $100.27, for a total transaction of $671,809.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 2,404 shares of the firm's stock in a transaction on Friday, August 12th. The stock was sold at an average price of $109.14, for a total value of $262,372.56. Following the completion of the sale, the chief operating officer now directly owns 70,531 shares of the company's stock, valued at $7,697,753.34. The disclosure for this sale can be found here. Insiders sold 56,923 shares of company stock valued at $6,052,790 over the last 90 days. Company insiders own 11.24% of the company's stock.
