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 Price Performance
ZM opened at $113.85 on Friday. Zoom Video Communications has a 12 month low of $79.03 and a 12 month high of $395.00. The stock has a market cap of $33.97 billion, a P/E ratio of 27.63, a P/E/G ratio of 4.62 and a beta of -0.61. The stock's 50 day moving average price is $109.90 and its 200 day moving average price is $114.11.
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. Zoom Video Communications had a return on equity of 16.56% and a net margin of 29.91%. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the firm earned $0.97 EPS. The firm's revenue was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Zoom Video Communications will post 1.75 EPS for the current year.
Analysts Set New Price Targets
A number of equities analysts have weighed in on ZM shares. Piper Sandler increased their price target on shares of Zoom Video Communications from $96.00 to $115.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 13th. Stifel Nicolaus cut their target price on shares of Zoom Video Communications from $150.00 to $120.00 in a research note on Tuesday, May 24th. Sanford C. Bernstein initiated coverage on shares of Zoom Video Communications in a research note on Tuesday, July 19th. They issued a "market perform" rating and a $122.00 target price on the stock. The Goldman Sachs Group cut their target price on shares of Zoom Video Communications from $163.00 to $142.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 24th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Zoom Video Communications from $155.00 to $105.00 in a research note on Tuesday, May 24th. Fourteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of "Moderate Buy" and an average price target of $160.62.
Insider Activity
In other news, COO Aparna Bawa sold 2,404 shares of Zoom Video Communications stock in a transaction on Friday, May 13th. The stock was sold at an average price of $95.04, for a total transaction of $228,476.16. Following the transaction, the chief operating officer now directly owns 84,260 shares in the company, valued at approximately $8,008,070.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Aparna Bawa sold 2,404 shares of Zoom Video Communications stock in a transaction on Friday, May 13th. The stock was sold at an average price of $95.04, for a total transaction of $228,476.16. Following the transaction, the chief operating officer now directly owns 84,260 shares in the company, valued at approximately $8,008,070.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction on Friday, May 27th. The shares were sold at an average price of $108.61, for a total value of $727,687.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,923 shares of company stock worth $5,803,973. 11.24% of the stock is owned by company insiders.
