Zoom Video Communications Inc. (NASDAQ:ZM) shares traded -3.87% lower at $77.15 on Wall Street last session.
ZM stock price is now -1.86% away from the 50-day moving average and -23.31% away from the 200-day moving average. The market capitalization of the company currently stands at $23.23B.
With the price target reduced from $130 to $90, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Zoom Video Communications Inc. (NASDAQ: ZM). On October 07, 2022, JP Morgan Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $295 to quote $85, while ‘Credit Suisse’ rates the stock as ‘Neutral’.
In other news, Sankarlingam Velchamy, Pres. of Engineering & Product sold 2,374 shares of the company’s stock on Oct 08. The stock was sold for $169,955 at an average price of $71.59. Upon completion of the transaction, the Pres. of Engineering & Product now directly owns 15,869 shares in the company, valued at $1.22 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 12, Chief Operating Officer Bawa Aparna sold 2,404 shares of the business’s stock. A total of $262,384 was realized by selling the stock at an average price of $109.14. This leaves the insider owning 70,531 shares of the company worth $5.44 million. Insiders disposed of 578,606 shares of company stock worth roughly $44.64 million over the past 1 year. A total of 12.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ZM stock. A new stake in Zoom Video Communications Inc. shares was purchased by SHANDA ASSET MANAGEMENT HOLDINGS LTD during the first quarter worth $77,150,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC invested $47,243,000 in shares of ZM during the first quarter. In the first quarter, HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in Zoom Video Communications Inc. valued at approximately $37,649,000. ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in ZM for approximately $37,040,000. HHLR ADVISORS, LTD. purchased a new stake in ZM valued at around $32,442,000 in the second quarter. In total, there are 1,063 active investors with 63.20% ownership of the company’s stock.
Zoom Video Communications Inc. (NASDAQ: ZM) opened at $75.18 on Tuesday. During the past 12 months, Zoom Video Communications Inc. has had a low of $70.43 and a high of $251.70. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.40, and a quick ratio of 3.40. The fifty day moving average price for ZM is $78.62 and a two-hundred day moving average price translates $100.60 for the stock.
The latest earnings results from Zoom Video Communications Inc. (NASDAQ: ZM) was released for Jul, 2022. According to the Telecom Services Company, earnings per share came in at $1.05, beating analysts’ expectations of $0.94 by 0.11. This compares to $1.04 EPS in the same period last year. The net profit margin was 23.10% and return on equity was 17.30% for ZM. The company reported revenue of $1.1 billion for the quarter, compared to $1.02 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.63 percent. For the current quarter, analysts expect ZM to generate $1.1B in revenue.
Zoom Video Communications Inc.(ZM) 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. It also provides Zoom Rooms, a software-based conference room system; Zoom Hardware-as-a-Service allows users to access video communication technology from third party equipment; Zoom Conference Room Connector, a gateway for SIP/H.323 endpoints to join Zoom meetings; Zoom Events, which enables users to manage and host internal and external virtual events; OnZoom, a prosumer-focused virtual event platform and marketplace for Zoom users to create, host, and monetize online events; and Zoom Webinars to provide video presentations to large audiences from many devices. In addition, the company offers Zoom Developer Platform that enables developers, platform integrators, service providers, and customers to build apps and integrations using Zoom’s video-based communications solutions, as well as integrate Zoom’s technology into their products and services; Zoom App Marketplace, which helps developers to publish their apps, as well as third-party integrations of Zoom; and Zoom Contact Center, an omnichannel contact center solution. It serves individuals; and education, entertainment/media, enterprise infrastructure, finance, government, healthcare, manufacturing, non-profit/not for profit and social impact, retail/consumer products, and software/Internet industries. The company was formerly known as Zoom Communications, Inc. and changed its name to Zoom Video Communications, Inc. in May 2012. The company was incorporated in 2011 and is headquartered in San Jose, California.