Zoom Video Communications (NASDAQ:ZM) Upgraded at Scotiabank

Scotiabank upgraded shares of Zoom Video Communications (NASDAQ:ZM) to a hold rating in a research report released on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Morgan Stanley increased their price objective on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Wedbush initiated coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Wells Fargo & Company boosted their price target on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Finally, Robert W. Baird cut their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.61.

Zoom Video Communications Trading Up 3.0 %

Shares of NASDAQ ZM opened at $81.20 on Tuesday. The business has a 50-day moving average of $73.06 and a 200-day moving average of $65.32. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 6.64 and a beta of -0.05. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm posted $0.55 EPS. Zoom Video Communications’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts predict that Zoom Video Communications will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares in the company, valued at $191,264.81. This trade represents a 23.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 367,108 shares of company stock worth $26,796,191. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. raised its position in shares of Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after buying an additional 131 shares during the last quarter. MML Investors Services LLC grew its stake in Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after acquiring an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after acquiring an additional 145 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after purchasing an additional 154 shares in the last quarter. Finally, Menard Financial Group LLC boosted its holdings in shares of Zoom Video Communications by 4.0% during the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock valued at $302,000 after purchasing an additional 166 shares during the last quarter. Institutional investors 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.