Zoom Video Communications (NASDAQ:ZM) Releases Q3 2022 Earnings Guidance

Zoom Video Communications (NASDAQ:ZM) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.070-$1.080 for the period, compared to the Thomson Reuters consensus estimate of $1.090. The company issued revenue guidance of $1.02 billion-$1.02 billion, compared to the consensus revenue estimate of $1.01 billion.Zoom Video Communications also updated its FY 2022 guidance to $4.750-$4.790 EPS.

ZM has been the topic of several research analyst reports. Needham & Company LLC set a $361.97 price objective on shares of Zoom Video Communications and gave the company a hold rating in a research report on Monday, July 19th. Morgan Stanley raised Zoom Video Communications from an equal weight rating to an overweight rating and upped their target price for the company from $360.00 to $400.00 in a research report on Thursday, August 26th. Citigroup dropped their price target on Zoom Video Communications from $380.00 to $304.00 and set a neutral rating for the company in a report on Thursday, September 2nd. Zacks Investment Research downgraded Zoom Video Communications from a strong-buy rating to a sell rating and set a $398.00 target price for the company. in a research report on Thursday, August 5th. Finally, Mizuho dropped their price target on Zoom Video Communications from $400.00 to $350.00 and set a buy rating for the company in a research note on Tuesday, August 31st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications currently has an average rating of Hold and an average price target of $399.75.

NASDAQ ZM opened at $281.44 on Wednesday. Zoom Video Communications has a 12 month low of $273.20 and a 12 month high of $588.84. The business’s 50-day moving average price is $348.32 and its two-hundred day moving average price is $340.43. The firm has a market capitalization of $83.62 billion, a PE ratio of 85.03, a price-to-earnings-growth ratio of 5.49 and a beta of -1.53.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Sunday, August 29th. The company reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.20. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.27 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business’s quarterly revenue was up 54.0% compared to the same quarter last year. On average, analysts forecast that Zoom Video Communications will post 3.3 earnings per share for the current year.

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 6,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $294.20, for a total value of $1,971,140.00. Following the completion of the sale, the chief financial officer now owns 6,700 shares of the company’s stock, valued at $1,971,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 2,593 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $300.01, for a total value of $777,925.93. The disclosure for this sale can be found here. Insiders have sold 280,540 shares of company stock valued at $103,423,668 in the last ninety days. 12.27% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Zoom Video Communications stock. Morgan Stanley increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,384,701 shares of the company’s stock after acquiring an additional 742,240 shares during the quarter. Zoom Video Communications makes up about 0.6% of Morgan Stanley’s holdings, making the stock its 19th largest position. Morgan Stanley owned about 4.20% of Zoom Video Communications worth $4,793,252,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 46.87% of the company’s stock.

About Zoom Video Communications

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

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

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