Zoom Video Communications (NASDAQ:ZM) Given a $83.00 Price Target at UBS Group

UBS Group set a $83.00 target price on Zoom Video Communications (NASDAQ:ZMGet Rating) in a research report sent to investors on Wednesday, Stock Target Advisor reports.

ZM has been the topic of a number of other research reports. KeyCorp assumed coverage on shares of Zoom Video Communications in a report on Monday, September 12th. They issued a sector weight rating on the stock. Citigroup decreased their price target on shares of Zoom Video Communications from $76.00 to $72.00 and set a sell rating on the stock in a report on Wednesday, November 16th. Royal Bank of Canada decreased their price target on shares of Zoom Video Communications from $150.00 to $130.00 in a report on Tuesday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Zoom Video Communications from $95.00 to $75.00 and set a hold rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered shares of Zoom Video Communications from an overweight rating to a neutral rating and reduced their target price for the company from $295.00 to $85.00 in a report on Friday, October 7th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $115.86.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $76.14 on Wednesday. The firm has a market cap of $22.66 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 3.01 and a beta of -0.29. The firm’s 50 day moving average price is $78.58 and its 200 day moving average price is $93.66. Zoom Video Communications has a 1 year low of $70.43 and a 1 year high of $235.97.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its quarterly earnings results on Monday, November 21st. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Zoom Video Communications had a net margin of 16.07% and a return on equity of 8.80%. Zoom Video Communications’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. As a group, equities analysts predict that Zoom Video Communications will post 1.32 EPS for the current year.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 2,374 shares of the business’s stock in a transaction dated Saturday, October 8th. The shares were sold at an average price of $71.59, for a total value of $169,954.66. Following the completion of the sale, the insider now owns 15,869 shares of the company’s stock, valued at approximately $1,136,061.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZM. SeaCrest Wealth Management LLC acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at about $26,000. Ronald Blue Trust Inc. acquired a new position in Zoom Video Communications during the 2nd quarter valued at about $27,000. Wagner Wealth Management LLC acquired a new position in Zoom Video Communications during the 2nd quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. boosted its stake in Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, TCI Wealth Advisors Inc. boosted its stake in Zoom Video Communications by 57.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 529 shares of the company’s stock valued at $39,000 after purchasing an additional 194 shares during the period. 52.86% of the stock is 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.

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