Piper Sandler Comments on Zoom Video Communications, Inc.’s FY2022 Earnings (NASDAQ:ZM)

Zoom Video Communications, Inc. (NASDAQ:ZM) – Equities researchers at Piper Sandler increased their FY2022 earnings per share estimates for shares of Zoom Video Communications in a research report issued on Monday, November 22nd. Piper Sandler analyst J. Fish now anticipates that the company will post earnings per share of $3.42 for the year, up from their prior estimate of $3.36. Piper Sandler currently has a “Overweight” rating and a $299.00 price objective on the stock.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Zoom Video Communications from $300.00 to $275.00 and set a “hold” rating for the company in a research note on Tuesday. Bank of America restated a “neutral” rating and set a $270.00 price target (down from $385.00) on shares of Zoom Video Communications in a research report on Tuesday. Guggenheim restated a “buy” rating on shares of Zoom Video Communications in a research report on Monday, November 1st. Citigroup reduced their price target on shares of Zoom Video Communications from $304.00 to $250.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Zoom Video Communications from $350.00 to $280.00 and set a “hold” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $328.41.

Zoom Video Communications stock opened at $208.30 on Thursday. Zoom Video Communications has a 1-year low of $195.80 and a 1-year high of $486.83. The firm has a market capitalization of $61.89 billion, a price-to-earnings ratio of 62.93, a P/E/G ratio of 3.58 and a beta of -1.28. The firm has a 50 day simple moving average of $263.49 and a 200 day simple moving average of $316.90.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, November 22nd. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned $0.66 EPS. Zoom Video Communications’s revenue was up 35.2% compared to the same quarter last year.

In other news, insider Velchamy Sankarlingam sold 2,354 shares of the company’s stock in a transaction dated Tuesday, October 12th. The shares were sold at an average price of $255.27, for a total transaction of $600,905.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 15,625 shares of the company’s stock in a transaction dated Tuesday, September 21st. The shares were sold at an average price of $277.92, for a total transaction of $4,342,500.00. The disclosure for this sale can be found here. Insiders sold 109,697 shares of company stock valued at $30,180,093 over the last three months. 12.27% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG grew its holdings in Zoom Video Communications by 13.1% in the first quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 4,410 shares of the company’s stock worth $1,417,000 after purchasing an additional 512 shares during the period. Beacon Investment Advisory Services Inc. purchased a new stake in Zoom Video Communications in the first quarter worth about $404,000. Colony Group LLC purchased a new stake in Zoom Video Communications in the first quarter worth about $212,000. Teachers Retirement System of The State of Kentucky grew its holdings in Zoom Video Communications by 49.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 71,326 shares of the company’s stock worth $22,917,000 after purchasing an additional 23,500 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Zoom Video Communications by 19.1% in the first quarter. Principal Financial Group Inc. now owns 15,417 shares of the company’s stock worth $4,954,000 after purchasing an additional 2,474 shares during the period. Institutional investors own 46.51% of the company’s stock.

Zoom Video Communications Company Profile

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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