Zoom Video Communications (NASDAQ:ZM) Issues Q3 2020 Earnings Guidance

Zoom Video Communications (NASDAQ:ZM) issued an update on its third quarter 2020 earnings guidance on Thursday morning. The company provided EPS guidance of $0.03-0.03 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.01. The company issued revenue guidance of $155-156 million, compared to the consensus revenue estimate of $140.43 million.Zoom Video Communications also updated its FY 2020 guidance to $0.18-0.19 EPS.

Shares of ZM stock traded down $0.84 during trading hours on Thursday, hitting $92.69. The company’s stock had a trading volume of 4,063,752 shares, compared to its average volume of 2,453,114. The stock has a 50 day simple moving average of $93.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.46 and a quick ratio of 4.46. Zoom Video Communications has a 12-month low of $59.94 and a 12-month high of $107.34.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Thursday, June 6th. The company reported $0.03 EPS for the quarter, beating 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 firm’s quarterly revenue was up 103.1% on a year-over-year basis. As a group, sell-side analysts forecast that Zoom Video Communications will post -0.14 earnings per share for the current year.

A number of brokerages recently issued reports on ZM. Bank of America increased their price target on shares of Zoom Video Communications from $89.00 to $99.00 and gave the stock a buy rating in a report on Friday, June 7th. Stifel Nicolaus increased their price target on shares of Zoom Video Communications from $75.00 to $80.00 and gave the stock a buy rating in a report on Friday, June 7th. KeyCorp started coverage on shares of Zoom Video Communications in a research report on Monday, May 13th. They set a sector weight rating for the company. Stephens restated an overweight rating and set a $115.00 price objective on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Finally, Goldman Sachs Group cut shares of Zoom Video Communications from a neutral rating to a sell rating and upped their price objective for the stock from $53.00 to $66.00 in a research report on Sunday, June 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $85.97.

Zoom Video Communications Company Profile

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.

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

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