Rosenblatt Securities Reaffirms “Neutral” Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “neutral” rating reaffirmed by research analysts at Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They currently have a $75.00 price objective on the stock. Rosenblatt Securities’ target price indicates a potential upside of 13.64% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. HSBC started coverage on shares of Zoom Video Communications in a research report on Friday, September 15th. They set a “buy” rating and a $83.00 target price on the stock. Sanford C. Bernstein lowered their price target on shares of Zoom Video Communications from $92.00 to $82.00 and set a “market perform” rating for the company in a report on Tuesday, August 22nd. Wedbush reiterated a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, August 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Thursday, October 12th. Finally, JPMorgan Chase & Co. decreased their price target on Zoom Video Communications from $85.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, August 22nd. Seventeen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.09.

Zoom Video Communications Price Performance

ZM stock opened at $66.00 on Tuesday. The stock has a market cap of $19.86 billion, a price-to-earnings ratio of 150.00, a P/E/G ratio of 1.07 and a beta of -0.16. The company has a 50 day simple moving average of $64.83 and a 200 day simple moving average of $67.15. Zoom Video Communications has a 1 year low of $58.87 and a 1 year high of $85.13.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, November 20th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.21. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Zoom Video Communications had a return on equity of 3.51% and a net margin of 3.17%. Zoom Video Communications’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. On average, equities research analysts anticipate that Zoom Video Communications will post 1.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,586 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $70.69, for a total value of $112,114.34. Following the completion of the sale, the insider now directly owns 58,306 shares of the company’s stock, valued at approximately $4,121,651.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,586 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $70.69, for a total value of $112,114.34. Following the completion of the transaction, the insider now owns 58,306 shares in the company, valued at approximately $4,121,651.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 11,208 shares of Zoom Video Communications stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $59.87, for a total value of $671,022.96. The disclosure for this sale can be found here. Insiders have sold 157,375 shares of company stock valued at $10,417,755 in the last three months. 11.28% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

A number of large investors have recently bought and sold shares of the company. Savoie Capital LLC bought a new position in Zoom Video Communications during the third quarter worth about $3,623,000. Diversified Trust Co lifted its stake in shares of Zoom Video Communications by 45.8% during the 3rd quarter. Diversified Trust Co now owns 11,687 shares of the company’s stock valued at $817,000 after buying an additional 3,669 shares in the last quarter. Creative Planning boosted its holdings in Zoom Video Communications by 12.2% in the 3rd quarter. Creative Planning now owns 29,476 shares of the company’s stock worth $2,062,000 after buying an additional 3,195 shares during the period. Harbour Investments Inc. grew its stake in Zoom Video Communications by 7.4% in the 3rd quarter. Harbour Investments Inc. now owns 2,535 shares of the company’s stock valued at $177,000 after buying an additional 175 shares in the last quarter. Finally, WealthPlan Investment Management LLC raised its holdings in Zoom Video Communications by 931.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 6,270 shares of the company’s stock valued at $439,000 after acquiring an additional 5,662 shares during the period. 54.85% 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.