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

Zoom Video Communications (NASDAQ:ZM) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.01-0.02 for the period, compared to the Thomson Reuters consensus estimate of $0.01. The company issued revenue guidance of $129-130 million, compared to the consensus revenue estimate of $122.06 million.Zoom Video Communications also updated its FY 2020 guidance to $0.02-0.03 EPS.

Several research firms have recently issued reports on ZM. Royal Bank of Canada began coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued a sector perform rating and a $80.00 price objective for the company. Credit Suisse Group began coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued a neutral rating and a $80.00 price objective for the company. They noted that the move was a valuation call. JMP Securities began coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued a market perform rating and a $79.63 price objective for the company. Summit Insights began coverage on Zoom Video Communications in a research note on Monday, April 22nd. They issued a sell rating for the company. Finally, KeyCorp assumed coverage on Zoom Video Communications in a research note on Monday, May 13th. They issued a sector weight rating for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $81.51.

Shares of NASDAQ ZM opened at $88.79 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.46 and a quick ratio of 4.46. The firm’s fifty day moving average price is $87.59. Zoom Video Communications has a twelve month low of $59.94 and a twelve month high of $107.34.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Thursday, June 6th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $122.00 million for the quarter, compared to the consensus estimate of $111.66 million. The firm’s revenue was up 103.1% on a year-over-year basis. Research analysts expect that Zoom Video Communications will post -0.14 earnings per share for the current fiscal year.

In related news, insider Janine Pelosi sold 81,668 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $36.00, for a total transaction of $2,940,048.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Emergence Capital Partners Iii sold 912,026 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $31,191,289.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,405,918 shares of company stock valued at $83,480,215.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that delivers 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.

See Also: Options Trading – Understanding Strike Price

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

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.