Zoom Video Communications’ (NASDAQ:ZM) lock-up period is set to expire on Tuesday, October 15th. Zoom Video Communications had issued 20,869,565 shares in its initial public offering on April 18th. The total size of the offering was $751,304,340 based on an initial share price of $36.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
A number of equities analysts recently issued reports on ZM shares. Wells Fargo & Co lifted their target price on Zoom Video Communications from $75.00 to $95.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Goldman Sachs Group cut Zoom Video Communications from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $53.00 to $66.00 in a report on Sunday, June 30th. Zacks Investment Research upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Saturday, September 14th. Royal Bank of Canada decreased their target price on Zoom Video Communications to $95.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Zoom Video Communications from $113.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $90.21.
Shares of Zoom Video Communications stock opened at $70.80 on Tuesday. The stock has a fifty day simple moving average of $81.59. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.06. 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 issued its earnings results on Thursday, September 5th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The business had revenue of $145.80 million during the quarter, compared to analyst estimates of $130.55 million. The firm’s revenue was up 95.7% compared to the same quarter last year. As a group, analysts predict that Zoom Video Communications will post -0.03 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. US Bancorp DE acquired a new stake in Zoom Video Communications during the second quarter valued at $30,000. Trustcore Financial Services LLC acquired a new stake in Zoom Video Communications during the second quarter valued at $31,000. Captrust Financial Advisors acquired a new stake in Zoom Video Communications during the second quarter valued at $36,000. HM Payson & Co. acquired a new stake in Zoom Video Communications during the second quarter valued at $53,000. Finally, Toth Financial Advisory Corp acquired a new stake in Zoom Video Communications during the second quarter valued at $59,000. 9.03% of the stock is owned by institutional investors and hedge funds.
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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