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

Zoom Video Communications (NASDAQ:ZM) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.44-$0.46 for the period, compared to the Thomson Reuters consensus earnings per share 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.

Shares of ZM stock traded up $3.93 on Tuesday, reaching $208.08. The company had a trading volume of 35,147,840 shares, compared to its average volume of 10,723,326. The stock has a market capitalization of $50.07 billion, a PE ratio of 2,601.33, a price-to-earnings-growth 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 has a one year low of $60.97 and a one year high of $212.69. The business’s 50-day moving average is $159.35 and its 200 day moving average is $107.03.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, March 4th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.16. The firm had revenue of $188.25 million during the quarter, compared to analysts’ expectations of $176.88 million. Zoom Video Communications had a net margin of 3.73% and a return on equity of 3.30%. The business’s revenue for the quarter was up 77.9% compared to the same quarter last year. On average, sell-side analysts forecast that Zoom Video Communications will post 0.02 earnings per share for the current fiscal year.

A number of research analysts have recently commented on ZM shares. DA Davidson started coverage on shares of Zoom Video Communications in a report on Tuesday, March 31st. They issued a neutral rating and a $150.00 target price for the company. Zacks Investment Research lowered shares of Zoom Video Communications from a buy rating to a hold rating and set a $184.00 price objective for the company. in a report on Monday, May 18th. Citigroup began coverage on shares of Zoom Video Communications in a report on Friday, May 15th. They issued a neutral rating and a $186.00 price objective for the company. ValuEngine lowered shares of Zoom Video Communications from a buy rating to a hold rating in a report on Friday, April 17th. Finally, BidaskClub lowered shares of Zoom Video Communications from a strong-buy rating to a buy rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. Zoom Video Communications presently has a consensus rating of Hold and an average price target of $128.25.

In other news, insider Aparna Bawa sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $119.65, for a total transaction of $897,375.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 11,067 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $169.97, for a total transaction of $1,881,057.99. The disclosure for this sale can be found here. Insiders have sold a total of 746,211 shares of company stock valued at $99,785,087 in the last three months. Insiders own 24.25% of the company’s stock.

About Zoom Video Communications

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.

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

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