Zoom Video Communications (ZM) Expected to Announce Quarterly Earnings on Monday

Zoom Video Communications (NASDAQ:ZM) is expected to be posting its quarterly earnings results after the market closes on Monday, February 24th. Analysts expect Zoom Video Communications to post earnings of $1.31 per share and revenue of $1.19 billion for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Zoom Video Communications Stock Performance

ZM stock opened at $85.10 on Monday. The company’s 50-day simple moving average is $83.29 and its 200 day simple moving average is $75.30. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market capitalization of $26.08 billion and a PE ratio of 28.37.

Insider Activity

In other news, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock worth $31,230,938 in the last quarter. 10.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Sanford C. Bernstein upped their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Bank of America upped their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Mizuho upped their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Finally, Cantor Fitzgerald assumed coverage on Zoom Video Communications in a research note on Friday, January 17th. They issued a “neutral” rating and a $87.00 price objective for the company. Sixteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.10.

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.