Zoom Video Communications Inc (NASDAQ: ZM) stock jumped 2.93% on Monday to $66.00 against a previous-day closing price of $64.12. With 10.2 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.35 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $66.08 whereas the lowest price it dropped to was $64.48. The 52-week range on ZM shows that it touched its highest point at $85.13 and its lowest point at $58.87 during that stretch. It currently has a 1-year price target of $81.03. Beta for the stock currently stands at -0.13.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ZM was up-trending over the past week, with a rise of 7.25%, but this was up by 6.95% over a month. Three-month performance surged to 0.26% while six-month performance fell -7.58%. The stock lost -20.09% in the past year, while it has lost -2.57% so far this year. A look at the trailing 12-month EPS for ZM yields 0.45 with Next year EPS estimates of 4.38. For the next quarter, that number is 1.10. This implies an EPS growth rate of -1.03% for this year and 1.35% for next year.
Float and Shares Shorts:
At present, 247.15 million ZM shares are outstanding with a float of 222.69 million shares on hand for trading. On Oct 30, 2023, short shares totaled 16.21 million, which was 5.39% higher than short shares on Sep 28, 2023. In addition to Mr. Eric S. Yuan as the firm’s Founder, President, CEO & Chairman, Ms. Kelly Steckelberg serves as its CFO & Treasurer.
Institutional Ownership:
Through their ownership of 65.89% of ZM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 35.10% of ZM, in contrast to 32.74% held by mutual funds. Shares owned by individuals account for 2.62%. As the largest shareholder in ZM with 8.84% of the stake, The Vanguard Group, Inc. holds 22,166,754 shares worth 22,166,754. A second-largest stockholder of ZM, ARK Investment Management LLC, holds 10,182,913 shares, controlling over 4.06% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ZM, holding 9,923,823 shares or 3.96% stake. With a 3.20% stake in ZM, the ARK Innovation ETF is the largest stakeholder. A total of 8,029,664 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.85% of ZM stock, is the second-largest Mutual Fund holder. It holds 7,155,343 shares valued at 429.18 million. Vanguard Mid Cap Index Fund holds 2.07% of the stake in ZM, owning 5,197,952 shares worth 311.77 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ZM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ZM analysts setting a high price target of $105.00 and a low target of $66.00, the average target price over the next 12 months is $81.53.
Summary of Insider Activity:
Insiders traded ZM stock several times over the past three months with 6 Buys and 21 Sells. In these transactions, 35,416 shares were bought while 53,011 shares were sold. The number of buy transactions has increased to 54 while that of sell transactions has risen to 117 over the past year. The total number of shares bought during that period was 427,346 while 385,596 shares were sold.
