Zoom Video Communications (NASDAQ:ZM) Receives Buy Rating from Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a note issued to investors on Tuesday,Benzinga reports. They presently have a $95.00 price objective on the stock. Rosenblatt Securities’ target price indicates a potential upside of 24.64% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday. Benchmark increased their target price on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group upped their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $90.05.

Zoom Video Communications Stock Down 7.6 %

Shares of NASDAQ ZM opened at $76.22 on Tuesday. The firm’s 50-day moving average price is $83.13 and its 200-day moving average price is $76.55. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a market cap of $23.36 billion and a PE ratio of 25.78.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, February 24th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.19 billion. As a group, equities research analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 over the last three months. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its stake in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the period. Avior Wealth Management LLC increased its position in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $30,000. Finally, Colonial Trust Co SC purchased a new position in shares of Zoom Video Communications during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds 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.