Rosenblatt Securities Reaffirms Buy Rating for Zoom Video Communications (NASDAQ:ZM)

Rosenblatt Securities reaffirmed their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note released on Friday morning, Benzinga reports. The firm currently has a $78.00 price target on the stock.

Other analysts also recently issued reports about the company. Needham & Company LLC reissued a hold rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Benchmark reaffirmed a buy rating and set a $83.00 price target on shares of Zoom Video Communications in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a hold rating in a research note on Friday, August 23rd. Piper Sandler reduced their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Finally, Morgan Stanley dropped their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an equal weight rating on the stock in a research note on Friday, June 14th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of Hold and an average target price of $74.68.

Zoom Video Communications Price Performance

ZM opened at $68.66 on Friday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $74.77. The stock has a market capitalization of $21.23 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 5.83 and a beta of -0.04. The business has a fifty day moving average price of $64.64 and a 200 day moving average price of $62.34.

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

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $67.79, for a total transaction of $603,398.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zoom Video Communications news, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at approximately $97,830.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,316 shares of company stock valued at $7,831,615. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently modified their holdings of the company. Baader Bank Aktiengesellschaft boosted its stake in Zoom Video Communications by 0.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after buying an additional 189 shares during the last quarter. Cantor Fitzgerald L. P. grew its holdings in Zoom Video Communications by 2.7% in the fourth quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock valued at $544,000 after purchasing an additional 197 shares during the period. The Manufacturers Life Insurance Company increased its position in Zoom Video Communications by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after purchasing an additional 223 shares during the last quarter. Excalibur Management Corp raised its stake in Zoom Video Communications by 5.6% during the second quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after purchasing an additional 232 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Zoom Video Communications by 2.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock worth $669,000 after purchasing an additional 273 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.