Let’s look at the key reasons that are pushing Zoom Video Communications Inc (ZM) to new highs

On Friday, Zoom Video Communications Inc (NASDAQ: ZM) opened higher 65.70% from the last session, before settling in for the closing price of $80.05. Price fluctuations for ZM have ranged from $58.87 to $80.80 over the past 52 weeks.

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Technology Sector giant saw their annual sales surged by 119.00% over the last five years. Company’s average yearly earnings per share was noted 13.12% at the time writing. With a float of $229.98 million, this company’s outstanding shares have now reached $247.15 million.

Zoom Video Communications Inc (ZM) Breakdown of a Key Holders of the stock

A key investor’s attitude towards the stock of the Software – Application industry is another important factor to consider. The insider ownership of Zoom Video Communications Inc is 24.46%, while institutional ownership is 56.16%. The most recent insider transaction that took place on Feb 06, was worth 154,039. In this transaction Chief Executive Officer of this company sold 2,421 shares at a rate of $63.63, taking the stock ownership to the 87,580 shares. Before that another transaction happened on Feb 05, when Company’s Chief Executive Officer sold 2,421 for $63.69, making the entire transaction worth $154,186. This insider now owns 90,001 shares in total.

Zoom Video Communications Inc (ZM) Recent Fiscal highlights

If we go through the results of last quarter, which was made public on 10/31/2023, the company posted $1.29 earnings per share (EPS) for the quarter, besting the agreed prediction (set at $1.09) by $0.2. Wall Street market experts anticipate that the next fiscal year will bring earnings of 1.13 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 13.12% per share during the next fiscal year.

Zoom Video Communications Inc (NASDAQ: ZM) Trading Performance Indicators

Check out the current performance indicators for Zoom Video Communications Inc (ZM). In the past quarter, the stock posted a quick ratio of 4.15. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 4.45. Likewise, its price to free cash flow for the trailing twelve months is 15.12.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.75, a number that is poised to hit 1.14 in the next quarter and is forecasted to reach 4.65 in one year’s time.

Technical Analysis of Zoom Video Communications Inc (ZM)

Analysing the last 5-days average volume posted by the [Zoom Video Communications Inc, ZM], we can find that recorded value of 3.19 million was better than the volume posted last year of 2.81 million. As of the previous 9 days, the stock’s Stochastic %D was 24.49%. Additionally, its Average True Range was 1.69.

During the past 100 days, Zoom Video Communications Inc’s (ZM) raw stochastic average was set at 42.96%, which indicates a significant increase from 35.01% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 26.29% in the past 14 days, which was lower than the 28.51% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $69.00, while its 200-day Moving Average is $67.33. Now, the first resistance to watch is $66.80. This is followed by the second major resistance level at $67.89. The third major resistance level sits at $69.29. If the price goes on to break the first support level at $64.31, it is likely to go to the next support level at $62.91. Now, if the price goes above the second support level, the third support stands at $61.82.

Zoom Video Communications Inc (NASDAQ: ZM) Key Stats

There are currently 304,423K shares outstanding in the company with a market cap of 20.00 billion. Presently, the company’s annual sales total 4,393 M according to its annual income of 103,710 K. Last quarter, the company’s sales amounted to 1,137 M and its income totaled 141,210 K.