Zoom Video Communications (NASDAQ:ZM) Downgraded by Piper Sandler to “Neutral”

Zoom Video Communications (NASDAQ:ZMGet Rating) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Thursday, Briefing.com reports. They presently have a $96.00 price objective on the stock, down from their prior price objective of $157.00. Piper Sandler’s price objective would suggest a potential upside of 13.21% from the stock’s current price.

Several other research firms have also recently issued reports on ZM. Evercore ISI cut their price objective on shares of Zoom Video Communications from $235.00 to $145.00 and set an “inline” rating for the company in a research report on Tuesday, March 1st. JPMorgan Chase & Co. cut their price objective on shares of Zoom Video Communications from $385.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday, March 1st. Robert W. Baird cut their price objective on shares of Zoom Video Communications from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, March 1st. TheStreet upgraded shares of Zoom Video Communications from a “d” rating to a “c” rating in a research report on Monday, April 18th. Finally, Citigroup dropped their price target on shares of Zoom Video Communications from $250.00 to $147.00 and set a “neutral” rating for the company in a research report on Thursday, February 24th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $189.48.

NASDAQ:ZM opened at $84.80 on Thursday. The company’s 50-day moving average price is $108.20 and its 200-day moving average price is $160.48. The company has a market cap of $25.37 billion, a P/E ratio of 18.89, a P/E/G ratio of 3.58 and a beta of -0.66. Zoom Video Communications has a twelve month low of $84.17 and a twelve month high of $406.48.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings data on Monday, February 28th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. Zoom Video Communications had a net margin of 33.54% and a return on equity of 21.17%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business earned $0.88 earnings per share. Zoom Video Communications’s revenue was up 21.4% compared to the same quarter last year. As a group, analysts expect that Zoom Video Communications will post 1.38 earnings per share for the current year.

In other news, COO Aparna Bawa sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $103.73, for a total transaction of $207,460.00. Following the completion of the sale, the chief operating officer now owns 87,068 shares in the company, valued at approximately $9,031,563.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly Steckelberg sold 6,700 shares of the business’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $144.57, for a total transaction of $968,619.00. The disclosure for this sale can be found here. Insiders sold 60,830 shares of company stock valued at $7,010,203 in the last quarter. 12.27% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Cordasco Financial Network increased its holdings in shares of Zoom Video Communications by 178.4% in the 3rd quarter. Cordasco Financial Network now owns 142 shares of the company’s stock valued at $37,000 after acquiring an additional 91 shares during the period. Rise Advisors LLC acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $26,000. Ellevest Inc. increased its holdings in shares of Zoom Video Communications by 94.8% in the 4th quarter. Ellevest Inc. now owns 150 shares of the company’s stock valued at $28,000 after acquiring an additional 73 shares during the period. BerganKDV Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 144.4% in the 4th quarter. BerganKDV Wealth Management LLC now owns 154 shares of the company’s stock valued at $28,000 after acquiring an additional 91 shares during the period. Finally, City State Bank acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $29,000. 55.94% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Company Profile (Get Rating)

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.

Recommended Stories

Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.