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

Zoom Video Communications (NASDAQ:ZM) will likely be announcing its earnings results 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. Investors that wish to register for the company’s conference call can do so using this link.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $82.50 on Friday. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a 50 day moving average price of $83.21 and a two-hundred day moving average price of $75.90. The company has a market capitalization of $25.29 billion and a P/E ratio of 27.50.

Wall Street Analyst Weigh In

Several analysts have weighed in on ZM shares. Mizuho boosted their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, November 26th. UBS Group boosted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Benchmark upped their target price on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average target price of $89.48.

Insider Transactions at Zoom Video Communications

In related news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,242 shares of company stock valued at $31,230,938. Insiders own 10.78% of the company’s stock.

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.