Market Analysts see Zoom Video Communications Inc [ZM] gaining to $60. Time to buy?

Zoom Video Communications Inc [NASDAQ: ZM] traded at a low on Monday, posting a -0.44 loss after which it closed the day’ session at $63.12. The company report on February 26, 2024 at 4:05 PM that Zoom Video Communications Reports Fourth Quarter and Fiscal Year 2024 Financial Results.

Fourth quarter total revenue of $1,146.5 million, up 2.6% year over year as reported and 2.7% in constant currency; full fiscal year total revenue of $4,527.2 million, up 3.1% year over year as reported and 3.8% in constant currency.

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Fourth quarter Enterprise revenue of $667.3 million, up 4.9% year over year; full fiscal year Enterprise revenue of $2,619.3 million, up 8.7% year over year.

The results of the trading session contributed to over 11707397 shares changing hands. Over the past one week, the price volatility of Zoom Video Communications Inc stands at 2.12% while the volatility over the past one month is 2.16%.

The market cap for ZM stock reached $19.22 billion, with 247.15 million shares outstanding and 229.97 million shares in the current float. Compared to the average trading volume of 3.60M shares, ZM reached a trading volume of 11707397 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Zoom Video Communications Inc [ZM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZM shares is $79.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ZM stock is a recommendation set at 2.62. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Exane BNP Paribas have made an estimate for Zoom Video Communications Inc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 18, 2024. The new note on the price target was released on December 20, 2023, representing the official price target for Zoom Video Communications Inc stock. Previously, the target price had yet another raise to $66, while Citigroup analysts kept a Neutral rating on ZM stock.

The Average True Range (ATR) for Zoom Video Communications Inc is set at 1.54, with the Price to Sales ratio for ZM stock in the period of the last 12 months amounting to 4.27. The Price to Book ratio for the last quarter was 2.59, with the Price to Cash per share for the same quarter was set at 21.35. Price to Free Cash Flow for ZM in the course of the last twelve months was 14.53 with Quick ratio for the last quarter at 4.15.

How has ZM stock performed recently?

Zoom Video Communications Inc [ZM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.61. With this latest performance, ZM shares dropped by -6.38% in over the last four-week period, additionally sinking by -5.72% over the last 6 months – not to mention a drop of -15.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZM stock in for the last two-week period is set at 42.35, with the RSI for the last a single of trading hit 44.45, and the three-weeks RSI is set at 42.74 for Zoom Video Communications Inc [ZM]. The present Moving Average for the last 50 days of trading for this stock 67.54, while it was recorded at 62.26 for the last single week of trading, and 67.38 for the last 200 days.

Zoom Video Communications Inc [ZM]: Deeper insight into the fundamentals

Zoom Video Communications Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.15 and a Current Ratio set at 4.15.

Earnings analysis for Zoom Video Communications Inc [ZM]

With the latest financial reports released by the company, Zoom Video Communications Inc posted 1.22/share EPS, while the average EPS was predicted by analysts to be reported at 0.8/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 52.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ZM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Zoom Video Communications Inc go to 1.50%.

Insider trade positions for Zoom Video Communications Inc [ZM]

The top three institutional holders of ZM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ZM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ZM stock with ownership which is approximately 5.8325%.