Operator
Good day, and welcome to the CSG Systems International Fourth Quarter 2020 Earnings Announcement. All participants are in a listen-only mode. A question-and-answer session will follow today s presentation and instructions will be provided at that time. Today s conference is being recorded.
At this time, I d like to turn the conference over to Mr. John Rea, Head of Investor Relations. Please go ahead, sir.
John Rea
Head of Investor Relations
Thank you, operator, and thanks to everyone for joining us. Today s discussion will contain a number of forward-looking statements. These will include, but are not limited to statements regarding our projected financial results, our ability to meet our clients needs through our products, services and performance and our ability to successfully integrate and manage acquired businesses in order to achieve their expected strategic, operating and financial goals. While these statements reflect our best current judgment, they are subj
Analysts at Credit Suisse felt it prudent to rebuild their valuation model on Amazon.com, Inc. (NASDAQ: AMZN) as the Street is likely missing out on a working capital benefit from a more rapid growth of Amazon s third party gross merchandise value and the positive impact on free cash flow.
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ZM Shares Up 2% After Zoom Raises $1.75B in Capital
Jan 14 2021 · 13:29 UTC | Updated
Jan 14 2021 · 13:50 by Benjamin Godfrey · 3 min read
Photo: Shutterstock
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Zoom saw a significant uptick in its user base and revenue in 2020 driven by the boosted demand in video communications as most people worked from home in the heat of the coronavirus pandemic.
The shares of American video communications service provider Zoom Video Communications Inc (NASDAQ: ZM) is seeing a good bounce following a new capital raised by the San Jose-based firm. As reported by the Motley Fool, the firm announced Tuesday that it plans to raise $1.5 billion in new capital from the sale of about 4.2 million new shares of its stock, a figure that was surpassed to $1.75 billion owing to an increase in demand, the company said. The latter capital raised was based on the sale of 5.1 million of its shares.
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Zoom Video Communications shares are on the mend after the company priced an offering of 5.15 million shares at $340 each, generating proceeds of $1.75 billion before expenses. That is a little larger than the $1.5 billion originally targeted.
The offering will nearly double the company’s holdings in cash and marketable securities, which stood at $1.87 billion as of the end of the October quarter. Zoom (ticker: ZM) has no long-term debt.
Stifel analyst Tom Roderick says the deal adds financial flexibility, but that he thinks the total would have to be higher in order for the company to achieve substantial growth via acquisitions. “While [the company now has] a sizable war chest, the cash alone doesn’t necessarily put potential targets like