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Weak Fundamental Momentum Pushes Zoom Video Communications Inc. (ZM) Lower

Zoom Video Communications Inc. (NASDAQ:ZM) has a beta value of -0.27 and has seen 0.96 million shares traded in the recent trading session. The company, currently valued at $19.52B, closed the recent trade at $66.80 per share which meant it lost -$2.63 on the day or -3.79% during that session. The ZM stock price is -133.61% off its 52-week high price of $156.05 and 4.87% above the 52-week low of $63.55. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.76 million shares traded. The 3-month trading volume is 3.56 million shares.

Zoom Video Communications Inc. (NASDAQ:ZM) trade information

Sporting -3.79% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the ZM stock price touched $66.80 or saw a rise of 7.02%. Year-to-date, Zoom Video Communications Inc. shares have moved 2.49%, while the 5-day performance has seen it change -0.63%. Over the past 30 days, the shares of Zoom Video Communications Inc. (NASDAQ:ZM) have changed -0.71%. Short interest in the company has seen 15.22 million shares shorted with days to cover at 4.59.

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Zoom Video Communications Inc. (ZM) estimates and forecasts

Figures show that Zoom Video Communications Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -34.56% over the past 6 months, with this year growth rate of -22.09%, compared to 6.70% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -38.00% and -16.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 6.70%.

27 analysts offering their estimates for the company have set an average revenue estimate of $1.1 billion for the current quarter. 22 have an estimated revenue figure of $1.11 billion for the next quarter concluding in Apr 2023. Year-ago sales stood $1.07 billion and $1.07 billion respectively for this quarter and the next, and analysts expect sales will grow by 2.80% for the current quarter and 3.50% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 141.50% over the past 5 years. Earnings growth for 2023 is a modest 99.60% while over the next 5 years, the company’s earnings are expected to decrease by -10.79%.

ZM Dividends

Zoom Video Communications Inc. is expected to release its next earnings report between February 27 and March 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Zoom Video Communications Inc. (NASDAQ:ZM)’s Major holders

Insiders own 12.57% of the company shares, while shares held by institutions stand at 65.28% with a share float percentage of 74.67%. Investors are also buoyed by the number of investors in a company, with Zoom Video Communications Inc. having a total of 973 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 17.13 million shares worth more than $1.14 billion. As of Sep 29, 2022, Vanguard Group, Inc. (The) held 6.82% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 12.98 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $864.36 million and represent 5.17% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. As of Dec 30, 2022, the former fund manager holds about 3.37% shares in the company for having 8.47 million shares of worth $563.62 million while later fund manager owns 6.36 million shares of worth $423.34 million as of Sep 29, 2022, which makes it owner of about 2.53% of company’s outstanding stock.

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