JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Zoom Video Communications (NASDAQ:ZM) Stock

Zoom Video Communications (NASDAQ:ZM) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $80.00 to $85.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 7.21% from the stock’s previous close.

Several other equities analysts have also weighed in on ZM. Morgan Stanley increased their price objective on Zoom Video Communications from $79.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Thursday. Rosenblatt Securities increased their price objective on Zoom Video Communications from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. UBS Group reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Mizuho reduced their price objective on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Fifteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $87.61.

Zoom Video Communications Trading Down 3.4%

Shares of Zoom Video Communications stock opened at $79.28 on Thursday. The stock has a fifty day simple moving average of $76.00 and a 200 day simple moving average of $79.76. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market capitalization of $24.20 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. Zoom Video Communications’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. On average, analysts predict that Zoom Video Communications will post 2.93 EPS for the current year.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 16,099 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $143,583.02. This trade represents a 89.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the sale, the director now directly owns 157,824 shares in the company, valued at $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock valued at $12,132,994 over the last ninety days. 11.51% of the stock is owned by insiders.

Institutional Trading of Zoom Video Communications

Large investors have recently bought and sold shares of the company. Adero Partners LLC boosted its position in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after purchasing an additional 129 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Zoom Video Communications by 6.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company’s stock worth $172,000 after purchasing an additional 143 shares in the last quarter. Wynn Capital LLC boosted its position in shares of Zoom Video Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock worth $752,000 after purchasing an additional 160 shares in the last quarter. Principal Securities Inc. boosted its position in shares of Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after purchasing an additional 166 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock worth $330,000 after purchasing an additional 168 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

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.