Zoom Video Communications (NASDAQ:ZM) Rating Reiterated by Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a report released on Friday, Benzinga reports. They currently have a $78.00 price target on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 14.89% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upped their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company raised their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. UBS Group raised Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Bank of America decreased their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, Benchmark reissued a “buy” rating and issued a $83.00 price target on shares of Zoom Video Communications in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and an average target price of $74.68.

Zoom Video Communications Trading Up 1.0 %

NASDAQ ZM traded up $0.68 on Friday, hitting $67.89. 378,653 shares of the company were exchanged, compared to its average volume of 3,287,745. The company has a market cap of $20.90 billion, a P/E ratio of 25.31, a P/E/G ratio of 5.83 and a beta of -0.04. The firm has a 50 day moving average of $64.47 and a two-hundred day moving average of $62.38. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Zoom Video Communications will post 2.74 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 2,493 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $58.26, for a total transaction of $145,242.18. Following the transaction, the chief accounting officer now owns 2,367 shares in the company, valued at approximately $137,901.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Shane Crehan sold 2,493 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $58.26, for a total transaction of $145,242.18. Following the sale, the chief accounting officer now directly owns 2,367 shares of the company’s stock, valued at $137,901.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the completion of the sale, the chief executive officer now owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,908 shares of company stock worth $7,373,459. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZM. Vanguard Group Inc. boosted its position in Zoom Video Communications by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after purchasing an additional 721,923 shares during the period. AQR Capital Management LLC lifted its position in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after acquiring an additional 2,520,987 shares during the period. Pacer Advisors Inc. lifted its position in shares of Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after buying an additional 2,579,720 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the period. Finally, FIL Ltd grew its stake in Zoom Video Communications by 1.3% during the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after purchasing an additional 40,456 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.