In the latest trading session, 5.55 million Zoom Video Communications Inc (NASDAQ:ZM) shares changed hands as the company’s beta touched -0.11. With the company’s most recent per share price at $64.22 changed hands at -$1.78 or -2.70% at last look, the market valuation stands at $19.11B. ZM’s current price is a discount, trading about -32.56% off its 52-week high of $85.13. The share price had its 52-week low at $58.87, which suggests the last value was 8.33% up since then. When we look at Zoom Video Communications Inc’s average trading volume, we note the 10-day average is 3.73 million shares, with the 3-month average coming to 3.47 million.
Analysts gave the Zoom Video Communications Inc (ZM) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.53. If we narrow down to specifics, the data shows that 0 out of 34 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 25 recommended ZM as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Zoom Video Communications Inc’s EPS for the current quarter is expected to be $1.09.
Zoom Video Communications Inc (NASDAQ:ZM) trade information
Instantly ZM was in red as seen in intraday trades today. With action 2.31%, the performance over the past five days has been green. The drop to weekly highs of 66.08 on Monday, 11/20/23 subtracted -2.70% to the stock’s daily price. The company’s shares are showing year-to-date downside of -5.19%, with the 5-day performance at 2.31% in the green. However, in the 30-day time frame, Zoom Video Communications Inc (NASDAQ:ZM) is 5.06% up. Looking at the short shares, we see there were 16.21 million shares sold at short interest cover period of 5.97 days.
The consensus price target for the stock as assigned by Wall Street analysts is $80.28, meaning bulls need an upside of 20.0% from its recent market value. According to analyst projections, ZM’s forecast low is $66.00 with $105.00 as the target high. To hit the forecast high, the stock’s price needs a -63.5% plunge from its current level, while the stock would need to soar -2.77% for it to hit the projected low.
Zoom Video Communications Inc (ZM) estimates and forecasts
Data shows that the Zoom Video Communications Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -2.18% over the past 6 months, a 6.64% in annual growth rate that is considerably lower than the industry average of 18.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Zoom Video Communications Inc will fall -10.70%, while the growth in revenue is estimated to hit 5.80% for the next quarter. Year-over-year growth is forecast to reach 2.40% up from the last financial year.
Consensus estimates given by 26 financial analysts project the company’s revenue in the current quarter to hit an average of $1.13 billion. 21 analysts are of the opinion that Zoom Video Communications Inc’s revenue for the quarter ending Apr 2024 will be $1.13 billion. The company’s revenue for the corresponding quarters a year ago was $1.12 billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.30%.
The 2023 estimates are for Zoom Video Communications Inc earnings to decrease by -1.03%, but the outlook for the next 5-year period is at 0.20% per year.
Zoom Video Communications Inc is expected to release its next quarterly earnings report on November 20.
Zoom Video Communications Inc (NASDAQ:ZM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.17% of Zoom Video Communications Inc shares while 65.89% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 72.55%. There are 65.89% institutions holding the Zoom Video Communications Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 48.64% of the shares, roughly 22.7 million ZM shares worth $1.48 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 29.78% or 13.9 million shares worth $906.27 million as of Sep 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. With 8.0 million shares estimated at $521.57 million under it, the former controlled 17.14% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 14.90% of the shares, roughly 6.95 million shares worth around $453.47 million.