Zoom Video Communications (NASDAQ:ZM) PT Raised to $75.00 at Deutsche Bank Aktiengesellschaft

Zoom Video Communications (NASDAQ:ZM) had its price target increased by equities researchers at Deutsche Bank Aktiengesellschaft from $71.00 to $75.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 10.23% from the company’s current price.

A number of other brokerages have also issued reports on ZM. Evercore ISI decreased their price target on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, May 21st. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Thursday. Citigroup boosted their price target on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. UBS Group upgraded Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Finally, Rosenblatt Securities restated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $75.10.

Zoom Video Communications Trading Up 13.0 %

Shares of ZM opened at $68.04 on Friday. The firm has a market cap of $21.04 billion, a PE ratio of 25.39, a P/E/G ratio of 8.91 and a beta of -0.05. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $75.90. The stock has a fifty day moving average price of $58.29 and a 200-day moving average price of $61.81.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business posted $0.55 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Zoom Video Communications will post 2.43 EPS for the current year.

Insider Activity at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $61.58, for a total value of $308,331.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $61.58, for a total transaction of $308,331.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,589 shares of the firm’s stock in a transaction dated Sunday, June 9th. The stock was sold at an average price of $62.42, for a total transaction of $224,025.38. Following the completion of the transaction, the insider now directly owns 81,287 shares in the company, valued at $5,073,934.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,629 shares of company stock valued at $6,887,868. 10.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings 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 valued at $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC grew its stake in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares during the period. Norges Bank acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $164,224,000. Acadian Asset Management LLC raised its position in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after buying an additional 721,923 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Company Profile

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.