Zoom Video Communications (NASDAQ:ZM) Releases FY 2020 Earnings Guidance

Zoom Video Communications (NASDAQ:ZM) updated its FY 2020 earnings guidance on Thursday. The company provided earnings per share guidance of $0.02-0.03 for the period. The company issued revenue guidance of $535-540 million, compared to the consensus revenue estimate of $525.9 million.Zoom Video Communications also updated its FY20 guidance to $0.02-0.03 EPS.

Several brokerages recently issued reports on ZM. Bank of America boosted their price objective on Zoom Video Communications from $89.00 to $99.00 and gave the stock a buy rating in a research report on Friday, June 7th. Stifel Nicolaus boosted their price objective on Zoom Video Communications from $75.00 to $80.00 and gave the company a buy rating in a research note on Friday, June 7th. Rosenblatt Securities reiterated a buy rating and set a $80.00 price objective (up from $60.00) on shares of Zoom Video Communications in a research note on Friday, June 7th. Royal Bank of Canada boosted their price objective on Zoom Video Communications from $80.00 to $86.00 and gave the company a sector perform rating in a research note on Friday, June 7th. Finally, William Blair initiated coverage on Zoom Video Communications in a research note on Monday, May 20th. They issued an outperform rating and a $89.98 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $81.51.

Shares of ZM traded down $1.48 during midday trading on Friday, reaching $88.79. The stock had a trading volume of 3,222,816 shares, compared to its average volume of 3,172,657. The business has a 50-day moving average price of $87.59. Zoom Video Communications has a 12-month low of $59.94 and a 12-month high of $107.34. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.06.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Thursday, June 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $122.00 million during the quarter, compared to analysts’ expectations of $111.66 million. The company’s quarterly revenue was up 103.1% on a year-over-year basis. On average, equities research analysts predict that Zoom Video Communications will post -0.14 EPS for the current year.

In other news, major shareholder Emergence Capital Partners Iii sold 912,026 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 583,787 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $36.00, for a total value of $21,016,332.00. The disclosure for this sale can be found here. In the last quarter, insiders 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.

Further Reading: What economic reports are most valuable to investors?

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.