Zoom Video Communications Inc (NASDAQ:ZM) does about 3.48M shares in volume on a normal day but saw 2226315 shares change hands in Monday trading. The company now has a market cap of 20.52B USD. Its current market price is $66.71, marking an increase of 1.14% compared to the previous close of $65.96. The 52 week high reached by this stock is $75.90 whilst the lowest price level in 52 weeks is $58.87.
Zoom Video Communications Inc (ZM) has a 20-day trading average at $67.81 and the current price is -12.11% off the 52-week high compared with 13.32% distance from its 52-week low. The 50-day simple moving average of the closing price is $66.48 and its 200-day simple moving average is $67.49. If we look at the stock’s price movements over the week, volatility stands at 1.89%, which increases to 2.67% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 49.66 to suggest the stock is neutral.
The consensus objective for the share price is $78.25, suggesting that the stock has a potential upside of 14.75% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 19, 2024 when Jefferies initiated the stock to “Hold” and issued a price target of $70. Exane BNP Paribas downgraded the stock to “Underperform” from Neutral on January 18, 2024 at a price target of $60. Wells Fargo downgraded its price target at $70.
Zoom Video Communications Inc (ZM) stock is up 0.72% over the week and 5.22% over the past month. Its price is -7.23% year-to-date and -3.58% over the past year.
The stock last released its quarterly earnings report for quarter ended 1/30/2024, with the company’s earnings per share (EPS) of $1.42 above consensus estimates by $0.27. ZM’s earnings per share are forecast to shrink by -5.60% this year and 1.20% over next year. Expected sales for next quarter are $1.15 billion, which analysts say will come at $4.62 billion for the current fiscal year and next year at $4.8 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.13 billion.
To reach the target analysts have set, the stock logically needs to grow 14.75 percent from here.
Outstanding shares total 260.90M with insiders holding 8.85% of the shares and institutional holders owning 69.76% of the company’s common stock. The company has a return on investment of 7.90% and return on equity of 8.96%. The price to earnings ratio (P/E ratio) amounts to 32.48 while the forward price to earnings ratio is 13.26. The beta has a value of -0.08. Price to book ratio is 2.56 and price to sales ratio is 4.53.
