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ZOOM VIDEO COMMUNICATIONS, INC.

(ZM)
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Zoom Video Communications : shares rise on strong current-quarter forecast, upbeat results

03/01/2021 | 04:17pm EDT

March 1 (Reuters) - Zoom Video Communications Inc forecast current-quarter revenue above expectations, as the company expects millions of people to continue using its video-conferencing platform to work remotely and attend online classes, sending its shares up 10%.

When the COVID-19 pandemic hit, Zoom was a relative upstart founded by a former Cisco executive that had gone public on a promise to make video conferencing software easier to use.

However, businesses around the globe took to the company's video conferencing services during the virus outbreak. Zoom has since seen a meteoric rise over the last year, with investors keen on knowing if the firm can maintain this level of growth.

Eric Yuan, founder and chief executive officer of Zoom, said the firm was "well positioned for strong growth" in the coming year.

The company forecast current-quarter revenue between $900 million and $905 million, compared with estimates of $829.2 million, according to IBES Refinitiv data.

Zoom has seen its user numbers surge in the past year, while its shares more than quadrupled during the same period. The platform said it has 1,644 customers contributing more than $100,000 in trailing 12 months revenue, more than double from a year earlier.

The company reported quarterly revenue of $882.5 million, compared with estimates of $811.8 million. On an adjusted basis, Zoom earned $1.22 per share, beating estimates of 79 cents per share.

The company's shares, which closed up 9.6% on Monday, were trading at $452 after the bell. (Reporting by Eva Mathews in Bengaluru; Editing by Shounak Dasgupta)


ę Reuters 2021
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Financials (USD)
Sales 2022 3 819 M - -
Net income 2022 726 M - -
Net cash 2022 4 127 M - -
P/E ratio 2022 135x
Yield 2022 -
Capitalization 95 260 M 95 260 M -
EV / Sales 2022 23,9x
EV / Sales 2023 19,6x
Nbr of Employees 4 422
Free-Float 65,2%
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Technical analysis trends ZOOM VIDEO COMMUNICATIONS, INC.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 465,71 $
Last Close Price 324,33 $
Spread / Highest target 88,1%
Spread / Average Target 43,6%
Spread / Lowest Target -31,2%
EPS Revisions
Managers and Directors
NameTitle
Eric S. Yuan Chairman, President & Chief Executive Officer
Kelly S. Steckelberg Chief Financial Officer
Harry D. Moseley Global Chief Information Officer
Brendan Ittelson Chief Technology Officer
Aparna Bawa COO, Secretary & General Counsel
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