Zoom Video Communications Inc (NASDAQ:ZM) shares, rose in value, with the stock price down by -0.54% to the previous day’s close as strong demand from buyers drove the stock to $62.94.
Actively observing the price movement in the last trading, the stock closed the session at $63.28. The value of beta (5-year monthly) was -0.07 whereas the PE ratio was 30.64 over 12-month period. Referring to stock’s 52-week performance, its high was $75.90, and the low was $58.87. On the whole, ZM has fluctuated by -5.24% over the past month.
With the market capitalization of Zoom Video Communications Inc currently standing at about $19.36 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 20, 2024 – May 24, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.19, which is expected to increase to $1.37 for fiscal year $4.92 and then to about $4.98 by fiscal year 2026. Data indicates that the EPS growth is expected to be -5.60% in 2026, while the next year’s EPS growth is forecast to be 1.20%.
Analysts have estimated the company’s revenue for the quarter at $1.13 billion, with a low estimate of $1.12 billion and a high estimate of $1.14 billion. According to the average forecast, sales growth in current quarter could jump up 1.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $4.62 billion, representing an increase of 1.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ZM’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 20.43, with the price of ZM currently trading nearly -5.18% and -4.47% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 35.49, while the 7-day volatility ratio is showing 1.96% which for the 30-day chart, stands at 2.11%. Furthermore, Zoom Video Communications Inc (ZM)’s beta value is -0.07, and its average true range (ATR) is 1.50.
A comparison of Zoom Video Communications Inc (ZM) with its peers suggests the former has fared considerably weaker in the market. ZM showed an intraday change of -0.54% in last session, and over the past year, it shrunk by -14.53%%.
Data on historical trading for Zoom Video Communications Inc (NASDAQ:ZM) indicates that the trading volumes over the past 10 days have averaged 2.35 million and over the past 3 months, they’ve averaged 3.46 million. According to company’s latest data on outstanding shares, there are 260.90 million shares outstanding.
Nearly 24.32% of Zoom Video Communications Inc’s shares belong to company insiders and institutional investors own 58.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 12.17 million shares as on Mar 15, 2024, resulting in a short ratio of 2.41. According to the data, the short interest in Zoom Video Communications Inc (ZM) stood at 3.96% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 12.72 million. The stock has fallen by -12.47% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ZM stock heading into the next quarter.
