Zoom Video Communications (NASDAQ:ZM) Earns Neutral Rating from Cantor Fitzgerald

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “neutral” rating reissued by stock analysts at Cantor Fitzgerald in a report released on Thursday,Benzinga reports. They presently have a $87.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 9.74% from the company’s previous close.

Several other brokerages have also issued reports on ZM. Stifel Nicolaus reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Scotiabank upped their target price on Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday, May 16th. Benchmark reaffirmed a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday. Needham & Company LLC raised Zoom Video Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 target price on the stock in a research report on Thursday. Finally, Morgan Stanley upped their target price on Zoom Video Communications from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday. Fifteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $87.61.

Zoom Video Communications Trading Down 3.4%

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

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. The firm 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%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. Research analysts predict that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $143,583.02. The trade was a 89.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock valued at $12,132,994 in the last quarter. 11.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZM. Norges Bank acquired a new position in Zoom Video Communications in the 4th quarter valued at $751,908,000. Altshuler Shaham Ltd raised its holdings in Zoom Video Communications by 285.9% in the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock valued at $167,813,000 after acquiring an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock worth $521,123,000 after buying an additional 1,247,717 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth $99,471,000. Finally, Contrarius Group Holdings Ltd acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth $72,854,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.