Zoom Video Communications (NASDAQ:ZM) Stock Rating Reaffirmed by Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a report released on Friday, Benzinga reports. They presently have a $78.00 price objective on the stock. Rosenblatt Securities’ price target suggests a potential upside of 13.60% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $83.00 target price on shares of Zoom Video Communications in a research report on Monday, August 5th. Wells Fargo & Company increased their target price on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Robert W. Baird cut their target price 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. UBS Group raised Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.68.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $68.66 on Friday. The stock’s 50-day moving average is $64.64 and its two-hundred day moving average is $62.37. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $74.77. The company has a market cap of $21.23 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 5.83 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion during 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%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. Equities research analysts anticipate that Zoom Video Communications will post 2.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 2,493 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $58.26, for a total value of $145,242.18. Following the sale, the chief accounting officer now owns 2,367 shares in the company, valued at $137,901.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,809 shares of company stock valued at $7,976,857. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Zoom Video Communications by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares during the period. AQR Capital Management LLC boosted its position in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares during the period. Pacer Advisors Inc. boosted its position in shares of Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after buying an additional 2,579,720 shares during the period. Acadian Asset Management LLC boosted its position in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the period. Finally, FIL Ltd boosted its position in shares of Zoom Video Communications by 1.3% in the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after buying an additional 40,456 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

About Zoom Video Communications

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.