Zoom Video Communications (NASDAQ:ZM – Get Rating) announced its quarterly earnings data on Monday. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.15, Briefing.com reports. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Zoom Video Communications had a net margin of 33.54% and a return on equity of 21.17%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS.
NASDAQ ZM opened at $93.40 on Wednesday. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 3.38 and a beta of -0.66. Zoom Video Communications has a 52-week low of $79.03 and a 52-week high of $406.48. The business has a 50 day simple moving average of $105.65 and a 200 day simple moving average of $147.85.
Several research analysts have weighed in on ZM shares. Wolfe Research lowered shares of Zoom Video Communications from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $140.00 to $100.00 in a report on Wednesday, March 2nd. Argus reduced their price target on shares of Zoom Video Communications from $350.00 to $170.00 in a research report on Wednesday, March 2nd. Exane BNP Paribas began coverage on shares of Zoom Video Communications in a research report on Tuesday, March 29th. They issued a “neutral” rating and a $110.00 price target on the stock. CICC Research began coverage on shares of Zoom Video Communications in a research report on Monday, February 14th. They issued an “outperform” rating and a $182.92 price objective on the stock. Finally, Evercore ISI cut their price objective on shares of Zoom Video Communications from $235.00 to $145.00 and set an “inline” rating on the stock in a research report on Tuesday, March 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $178.58.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Wealth Management Investment Advisory Inc. grew its position in Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $36,000. Covestor Ltd increased its holdings in shares of Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after acquiring an additional 171 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $144,000. Finally, Penserra Capital Management LLC increased its holdings in shares of Zoom Video Communications by 27.7% during the fourth quarter. Penserra Capital Management LLC now owns 914 shares of the company’s stock valued at $168,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 55.94% of the company’s stock.
About Zoom Video Communications (Get Rating)
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.
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