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 Up 1.4 %
Shares of ZM Stock traded up $1.46 during trading hours on Friday, reaching $109.52. 2,488,947 shares of the stock traded hands, compared to its average volume of 3,364,175. Zoom Video Communications has a 1-year low of $79.03 and a 1-year high of $363.39. The business has a fifty day moving average price of $109.95 and a 200 day moving average price of $112.76. The firm has a market capitalization of $32.68 billion, a PE ratio of 26.58, a PEG ratio of 4.49 and a beta of -0.61.
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, topping the consensus estimate of $0.35 by $0.12. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Zoom Video Communications had a net margin of 29.91% and a return on equity of 16.56%. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. Research analysts expect that Zoom Video Communications will post 1.75 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ZM has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on Zoom Video Communications from $96.00 to $115.00 and gave the company a "neutral" rating in a research note on Wednesday, July 13th. Royal Bank of Canada cut their price objective on Zoom Video Communications from $200.00 to $150.00 in a research note on Tuesday, May 24th. Deutsche Bank Aktiengesellschaft lowered their target price on Zoom Video Communications from $155.00 to $105.00 in a report on Tuesday, May 24th. The Goldman Sachs Group lowered their target price on Zoom Video Communications from $163.00 to $142.00 and set a "neutral" rating on the stock in a report on Tuesday, May 24th. Finally, TheStreet upgraded Zoom Video Communications from a "d" rating to a "c" rating in a report on Monday, April 18th. Fourteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $160.62.
Insider Buying and Selling at Zoom Video Communications
In other news, COO Aparna Bawa sold 2,000 shares of Zoom Video Communications stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $108.47, for a total transaction of $216,940.00. Following the sale, the chief operating officer now directly owns 82,260 shares in the company, valued at approximately $8,922,742.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,319 shares of the business's stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $109.79, for a total value of $254,603.01. Following the completion of the transaction, the insider now directly owns 10,863 shares of the company's stock, valued at $1,192,648.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $108.47, for a total transaction of $216,940.00. Following the completion of the transaction, the chief operating officer now directly owns 82,260 shares of the company's stock, valued at $8,922,742.20. The disclosure for this sale can be found here. Insiders sold a total of 54,519 shares of company stock valued at $5,790,417 in the last ninety days. Company insiders own 11.24% of the company's stock.
