Zoom Video Communications (NASDAQ:ZM) Issues Q2 Earnings Guidance

Zoom Video Communications (NASDAQ:ZM) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.44-$0.46 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.11. The company issued revenue guidance of $495-$500 million, compared to the consensus revenue estimate of $224.35 million.Zoom Video Communications also updated its FY 2021
After-Hours guidance to 1.21-1.29 EPS.

Several research analysts have commented on the stock. Stephens cut shares of Zoom Video Communications from an overweight rating to an equal weight rating and set a $95.00 target price for the company. in a research report on Wednesday, March 4th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Zoom Video Communications from a buy rating to a hold rating and set a $184.00 target price for the company. in a research report on Monday, May 18th. Cantor Fitzgerald began coverage on shares of Zoom Video Communications in a research report on Sunday, April 19th. They issued an overweight rating for the company. Needham & Company LLC began coverage on shares of Zoom Video Communications in a research note on Monday, March 16th. They issued a buy rating and a $140.00 price target for the company. Finally, Citigroup began coverage on shares of Zoom Video Communications in a research note on Friday, May 15th. They issued a neutral rating and a $186.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $128.25.

Shares of ZM traded up $3.93 during mid-day trading on Tuesday, hitting $208.08. 35,147,840 shares of the company’s stock were exchanged, compared to its average volume of 10,723,326. The firm has a fifty day moving average of $159.35 and a two-hundred day moving average of $107.03. Zoom Video Communications has a twelve month low of $60.97 and a twelve month high of $212.69. The stock has a market cap of $50.07 billion, a price-to-earnings ratio of 2,601.33, a P/E/G ratio of 337.88 and a beta of -1.58. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.08.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.16. Zoom Video Communications had a net margin of 3.73% and a return on equity of 3.30%. The company had revenue of $188.25 million for the quarter, compared to analyst estimates of $176.88 million. The business’s revenue for the quarter was up 77.9% on a year-over-year basis. On average, equities analysts predict that Zoom Video Communications will post 0.02 earnings per share for the current year.

In related news, CFO Kelly Steckelberg sold 11,067 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $169.97, for a total value of $1,881,057.99. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Aparna Bawa sold 7,500 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $168.00, for a total transaction of $1,260,000.00. The disclosure for this sale can be found here. Insiders sold a total of 746,211 shares of company stock worth $99,785,087 over the last quarter. 24.25% of the stock is currently owned by company insiders.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first communications platform that 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.

Read More: Retained Earnings

Earnings History and Estimates for Zoom Video Communications (NASDAQ:ZM)

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