Rosenblatt Securities Reiterates Buy Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research report issued on Friday,Benzinga reports. They currently have a $78.00 price target on the stock. Rosenblatt Securities’ target price indicates a potential downside of 9.18% from the stock’s previous close.

ZM has been the topic of a number of other reports. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Wells Fargo & Company increased their target price on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Bank of America decreased their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley boosted their target price on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.61.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $85.88 on Friday. The stock has a market capitalization of $26.43 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 6.93 and a beta of -0.05. The firm’s fifty day simple moving average is $73.43 and its 200-day simple moving average is $65.51. 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 released its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company posted $0.55 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Analysts anticipate 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, CFO Kelly Steckelberg sold 14,151 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $68.12, for a total value of $963,966.12. Following the transaction, the chief financial officer now owns 140,427 shares of the company’s stock, valued at approximately $9,565,887.24. This trade represents a 9.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the sale, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at approximately $5,847,447.32. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock worth $26,796,191 in the last quarter. 10.78% of the stock is owned by insiders.

Institutional Trading of Zoom Video Communications

Several large investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd boosted its position in Zoom Video Communications by 118.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,500 shares of the company’s stock valued at $229,000 after buying an additional 1,900 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Zoom Video Communications by 297.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 639,669 shares of the company’s stock worth $41,815,000 after purchasing an additional 478,769 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Zoom Video Communications in the 1st quarter valued at approximately $944,000. Lazard Asset Management LLC boosted its stake in shares of Zoom Video Communications by 110.1% during the 1st quarter. Lazard Asset Management LLC now owns 64,570 shares of the company’s stock valued at $4,220,000 after buying an additional 33,835 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Zoom Video Communications during the first quarter worth approximately $4,327,000. 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.