UBS Group set a $83.00 target price on $Zoom Video Communications (ZM.US)$ in a research report released on Wednesday morning, Stock Target Advisor reports.
Several other equities analysts have also recently issued reports on ZM. The Goldman Sachs Group reduced their target price on Zoom Video Communications from $104.00 to $90.00 and set a neutral rating on the stock in a research note on Wednesday. Robert W. Baird reduced their price target on Zoom Video Communications from $125.00 to $100.00 in a research note on Friday, November 18th. JPMorgan Chase & Co. cut Zoom Video Communications from an overweight rating to a neutral rating and reduced their price target for the stock from $295.00 to $85.00 in a research note on Friday, October 7th. MKM Partners dropped their target price on Zoom Video Communications from $125.00 to $100.00 in a report on Wednesday, November 9th. Finally, Royal Bank of Canada dropped their target price on Zoom Video Communications from $150.00 to $130.00 in a report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $115.86.
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Zoom Video Communications Stock Performance
Shares of ZM stock opened at $75.40 on Wednesday. Zoom Video Communications has a fifty-two week low of $70.43 and a fifty-two week high of $235.97. The stock has a 50 day moving average price of $78.43 and a two-hundred day moving average price of $93.41. The company has a market capitalization of $22.44 billion, a P/E ratio of 33.07, a PEG ratio of 2.97 and a beta of -0.29.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last posted its earnings results on Monday, November 21st. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.23. Zoom Video Communications had a return on equity of 8.80% and a net margin of 16.07%. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The business's revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Zoom Video Communications will post 1.32 earnings per share for the current year.
Insider Buying and Selling at Zoom Video Communications
In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,374 shares of the company's stock in a transaction dated Saturday, October 8th. The stock was sold at an average price of $71.59, for a total value of $169,954.66. Following the completion of the sale, the insider now owns 15,869 shares in the company, valued at $1,136,061.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 11.24% of the stock is owned by corporate insiders.
Institutional Trading of Zoom Video Communications
A number of hedge funds and other institutional investors have recently bought and sold shares of ZM. Comerica Bank increased its position in Zoom Video Communications by 54.1% in the first quarter. Comerica Bank now owns 6,230 shares of the company's stock worth $646,000 after buying an additional 2,188 shares in the last quarter. Venture Visionary Partners LLC purchased a new stake in Zoom Video Communications in the first quarter worth about $381,000. Arizona State Retirement System grew its position in shares of Zoom Video Communications by 0.8% during the first quarter. Arizona State Retirement System now owns 59,823 shares of the company's stock worth $7,013,000 after purchasing an additional 481 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Zoom Video Communications by 12.2% during the first quarter. Envestnet Asset Management Inc. now owns 54,457 shares of the company's stock worth $6,384,000 after purchasing an additional 5,926 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Zoom Video Communications by 17.6% during the first quarter. Benjamin Edwards Inc. now owns 881 shares of the company's stock worth $103,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 52.86% of the company's stock.
About Zoom Video Communications
(Get Rating)
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.
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