Zoom Video Communications (NASDAQ:ZM) Issues Q4 Earnings Guidance

Zoom Video Communications (NASDAQ:ZM) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $1.29-1.30 for the period, compared to the consensus earnings per share estimate of $1.28. The company issued revenue guidance of $1.175-1.180 billion, compared to the consensus revenue estimate of $1.17 billion.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ZM shares. Benchmark lifted their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Bank of America dropped their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Robert W. Baird decreased their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Stifel Nicolaus increased their target price on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.61.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded up $3.15 on Monday, reaching $89.03. The company had a trading volume of 16,328,885 shares, compared to its average volume of 3,297,217. The firm has a market cap of $27.40 billion, a price-to-earnings ratio of 33.18, a P/E/G ratio of 7.33 and a beta of -0.05. The firm’s 50-day moving average price is $73.43 and its two-hundred day moving average price is $65.54. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now owns 94,000 shares of the company’s stock, valued at $6,285,780. This represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock valued at $26,796,191 over the last three months. 10.78% of the stock is owned by company insiders.

About Zoom Video Communications

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.