Credit Suisse Group started coverage on shares of Zoom Video Communications (NASDAQ:ZM – Get Rating) in a research report sent to investors on Friday, The Fly reports. The firm issued a neutral rating and a $83.00 price target on the stock.
ZM has been the subject of several other reports. Daiwa Capital Markets upgraded shares of Zoom Video Communications from an underperform rating to an outperform rating and lifted their price objective for the stock from $107.00 to $121.00 in a research note on Monday, May 30th. Royal Bank of Canada lowered their price objective on shares of Zoom Video Communications from $150.00 to $130.00 in a research note on Tuesday, August 23rd. Piper Sandler reduced their target price on shares of Zoom Video Communications from $115.00 to $91.00 and set a neutral rating for the company in a report on Tuesday, August 23rd. Sanford C. Bernstein began coverage on shares of Zoom Video Communications in a report on Tuesday, July 19th. They set a market perform rating and a $122.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on shares of Zoom Video Communications from $120.00 to $90.00 in a report on Tuesday, August 23rd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $136.03.
Get Zoom Video Communications alerts:Zoom Video Communications Stock Down 0.1 %
Shares of ZM opened at $74.45 on Friday. Zoom Video Communications has a twelve month low of $73.32 and a twelve month high of $291.31. The company has a 50 day moving average of $93.98 and a two-hundred day moving average of $102.82. The company has a market cap of $22.16 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 4.18 and a beta of -0.49.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last posted its quarterly earnings data on Monday, August 22nd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Zoom Video Communications will post 1.3 EPS for the current year.Insider Transactions at Zoom Video Communications
In related news, COO Aparna Bawa sold 2,404 shares of the business's stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $109.14, for a total transaction of $262,372.56. Following the transaction, the chief operating officer now directly owns 70,531 shares in the company, valued at $7,697,753.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Aparna Bawa sold 2,404 shares of the business's stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $109.14, for a total transaction of $262,372.56. Following the transaction, the chief operating officer now directly owns 70,531 shares in the company, valued at $7,697,753.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 6,700 shares of the business's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $105.46, for a total transaction of $706,582.00. The disclosure for this sale can be found here. Insiders sold 32,823 shares of company stock valued at $3,526,086 over the last 90 days. Corporate insiders own 11.24% of the company's stock.
Hedge Funds Weigh In On Zoom Video Communications
Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital Wealth Alliance LLC acquired a new position in Zoom Video Communications in the 2nd quarter valued at about $4,230,000. Private Trust Co. NA purchased a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $47,000. Royal London Asset Management Ltd. raised its stake in shares of Zoom Video Communications by 14.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 89,269 shares of the company's stock valued at $9,641,000 after acquiring an additional 11,596 shares during the period. Guinness Asset Management LTD purchased a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $19,327,000. Finally, Guinness Atkinson Asset Management Inc purchased a new stake in shares of Zoom Video Communications in the 2nd quarter valued at approximately $5,187,000. 52.86% of the stock is currently owned by institutional investors and hedge funds.
Zoom Video Communications Company Profile
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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.
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