Zoom Video Communications (NASDAQ:ZM) PT Lowered to $150.00 at BTIG Research

Zoom Video Communications (NASDAQ:ZMGet Rating) had its price target lowered by equities researchers at BTIG Research from $180.00 to $150.00 in a research report issued on Friday, The Fly reports. BTIG Research’s target price would suggest a potential upside of 76.53% from the company’s current price.

Other equities analysts also recently issued research reports about the company. BNP Paribas initiated coverage on Zoom Video Communications in a research report on Tuesday, March 29th. They issued a “neutral” rating and a $110.00 target price on the stock. FBN Securities decreased their target price on Zoom Video Communications from $325.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. Benchmark upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research report on Tuesday, March 15th. Wells Fargo & Company decreased their target price on Zoom Video Communications from $145.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 15th. Finally, Argus cut their price target on Zoom Video Communications from $350.00 to $170.00 in a report on Wednesday, March 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $188.44.

Shares of ZM stock opened at $84.97 on Friday. The company has a market capitalization of $25.42 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.58 and a beta of -0.66. The business’s 50 day moving average is $107.72 and its two-hundred day moving average is $159.95. Zoom Video Communications has a 12-month low of $79.03 and a 12-month high of $406.48.

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

In related news, COO Aparna Bawa sold 3,449 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $118.64, for a total value of $409,189.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 6,700 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $144.57, for a total value of $968,619.00. The disclosure for this sale can be found here. Insiders have sold a total of 60,830 shares of company stock worth $7,010,203 in the last three months. Corporate insiders own 12.27% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ZM. Cibc World Market Inc. lifted its stake in shares of Zoom Video Communications by 11.3% during the 1st quarter. Cibc World Market Inc. now owns 4,364 shares of the company’s stock worth $512,000 after purchasing an additional 442 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Zoom Video Communications by 3.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 188,824 shares of the company’s stock worth $23,256,000 after purchasing an additional 5,510 shares during the period. Shelton Capital Management lifted its stake in shares of Zoom Video Communications by 4.4% during the 1st quarter. Shelton Capital Management now owns 21,068 shares of the company’s stock worth $2,470,000 after purchasing an additional 895 shares during the period. Exencial Wealth Advisors LLC lifted its stake in shares of Zoom Video Communications by 27.1% during the 1st quarter. Exencial Wealth Advisors LLC now owns 27,828 shares of the company’s stock worth $3,262,000 after purchasing an additional 5,941 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Zoom Video Communications by 3.0% during the 1st quarter. BlackRock Inc. now owns 10,688,031 shares of the company’s stock worth $1,252,959,000 after purchasing an additional 307,766 shares during the period. 55.94% of the stock is currently owned by hedge funds and other institutional investors.

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.

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