Zoom Video Communications (NASDAQ:ZM) Given New $130.00 Price Target at Guggenheim

Zoom Video Communications (NASDAQ:ZMGet Rating) had its price target decreased by research analysts at Guggenheim to $130.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. Guggenheim’s price objective suggests a potential upside of 27.06% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Zoom Video Communications from $155.00 to $105.00 in a research note on Tuesday. UBS Group dropped their price objective on shares of Zoom Video Communications from $130.00 to $100.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. CICC Research initiated coverage on shares of Zoom Video Communications in a research report on Monday, February 14th. They issued an “outperform” rating and a $182.92 price objective for the company. Exane BNP Paribas initiated coverage on shares of Zoom Video Communications in a report on Tuesday, March 29th. They set a “neutral” rating and a $110.00 price target for the company. Finally, Argus lowered their price target on shares of Zoom Video Communications from $350.00 to $170.00 in a report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $176.96.

Zoom Video Communications stock traded up $7.97 during trading on Wednesday, hitting $102.31. The company had a trading volume of 448,169 shares, compared to its average volume of 4,895,719. Zoom Video Communications has a 1-year low of $79.03 and a 1-year high of $406.48. The company’s 50 day simple moving average is $105.65 and its 200-day simple moving average is $147.85. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 3.38 and a beta of -0.66.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings data on Monday, May 23rd. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.15. Zoom Video Communications had a net margin of 33.54% and a return on equity of 21.17%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Zoom Video Communications will post 1.38 earnings per share for the current year.

In other Zoom Video Communications news, CEO Eric S. Yuan sold 15,625 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $109.43, for a total value of $1,709,843.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $122.38, for a total transaction of $244,760.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,534 shares of company stock worth $6,270,060. 11.24% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC bought a new stake in shares of Zoom Video Communications during the 4th quarter worth $26,000. Ellevest Inc. raised its stake in Zoom Video Communications by 94.8% during the 4th quarter. Ellevest Inc. now owns 150 shares of the company’s stock valued at $28,000 after purchasing an additional 73 shares during the last quarter. BerganKDV Wealth Management LLC raised its stake in Zoom Video Communications by 144.4% during the 4th quarter. BerganKDV Wealth Management LLC now owns 154 shares of the company’s stock valued at $28,000 after purchasing an additional 91 shares during the last quarter. Global Trust Asset Management LLC raised its stake in Zoom Video Communications by 1,035.7% during the 4th quarter. Global Trust Asset Management LLC now owns 159 shares of the company’s stock valued at $29,000 after purchasing an additional 145 shares during the last quarter. Finally, City State Bank acquired a new position in Zoom Video Communications during the 4th quarter valued at $29,000. 55.94% of the stock is owned by institutional investors and hedge funds.

About Zoom Video Communications (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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