Zoom Video Communications (NASDAQ:ZM) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Zoom Video Communications (NASDAQ:ZM) issued its quarterly earnings results on Thursday. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04, Briefing.com reports. The firm had revenue of $122.00 million for the quarter, compared to analysts’ expectations of $111.66 million. The company’s revenue for the quarter was up 103.1% compared to the same quarter last year.

ZM traded up $14.62 during mid-day trading on Friday, hitting $94.05. 9,452,379 shares of the stock were exchanged, compared to its average volume of 2,211,911. Zoom Video Communications has a 1-year low of $59.94 and a 1-year high of $98.89.

Several analysts have issued reports on ZM shares. Stifel Nicolaus upped their target price on Zoom Video Communications from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday. KeyCorp started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued a “sector weight” rating for the company. Summit Insights started coverage on Zoom Video Communications in a report on Monday, April 22nd. They issued a “sell” rating for the company. Morgan Stanley started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued an “equal weight” rating and a $75.00 target price for the company. Finally, Wells Fargo & Co started coverage on Zoom Video Communications in a report on Monday, May 13th. They issued a “market perform” rating and a $75.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $81.51.



In other Zoom Video Communications news, CEO Eric S. Yuan sold 583,787 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $36.00, for a total transaction of $21,016,332.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Janine Pelosi sold 81,668 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $36.00, for a total value of $2,940,048.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,405,918 shares of company stock worth $83,480,215.

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Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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