Royal Bank of Canada Reaffirms Outperform Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a report released on Thursday, Benzinga reports. They currently have a $95.00 price objective on the stock. Royal Bank of Canada’s target price points to a potential upside of 34.41% from the company’s current price.

Several other research analysts have also commented on ZM. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Company increased their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, October 4th. Robert W. Baird decreased their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Finally, UBS Group upgraded Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $75.05.

Zoom Video Communications Stock Down 0.2 %

Zoom Video Communications stock opened at $70.68 on Thursday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $74.77. The business has a fifty day moving average of $65.37 and a two-hundred day moving average of $62.48. The firm has a market cap of $21.75 billion, a P/E ratio of 25.33, a P/E/G ratio of 6.03 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.55 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Zoom Video Communications will post 2.74 earnings per share for the current year.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 10,332 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $56.81, for a total value of $586,960.92. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $112,370.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at $97,830.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Aparna Bawa sold 10,332 shares of Zoom Video Communications stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $56.81, for a total transaction of $586,960.92. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $112,370.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,074 shares of company stock valued at $9,595,146. Company insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZM. Vanguard Group Inc. boosted its stake in shares of Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after acquiring an additional 721,923 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Zoom Video Communications by 9.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after purchasing an additional 38,924 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in shares of Zoom Video Communications by 255.1% during the first quarter. Banque Cantonale Vaudoise now owns 3,597 shares of the company’s stock worth $235,000 after buying an additional 2,584 shares in the last quarter. Andra AP fonden raised its position in shares of Zoom Video Communications by 78.0% in the second quarter. Andra AP fonden now owns 238,700 shares of the company’s stock valued at $14,129,000 after buying an additional 104,600 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Zoom Video Communications in the first quarter worth about $2,100,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.