Zoom Video Communications (ZM) to Release Quarterly Earnings on Monday

Zoom Video Communications (NASDAQ:ZM) is expected to be issuing its quarterly earnings data after the market closes on Monday, February 24th. Analysts expect the company to announce earnings of $1.31 per share and revenue of $1.19 billion for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Zoom Video Communications Trading Down 1.1 %

Shares of NASDAQ:ZM opened at $82.50 on Friday. The stock’s fifty day simple moving average is $83.21 and its two-hundred day simple moving average is $75.90. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The stock has a market cap of $25.29 billion and a PE ratio of 27.50.

Wall Street Analysts Forecast Growth

ZM has been the topic of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein raised their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Finally, Citigroup decreased their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $89.48.

Insider Activity

In other news, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 over the last ninety days. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Company Profile

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.