Zoom Video Communications (NASDAQ:ZM) Upgraded by Rosenblatt Securities to "Buy"

Zoom Video Communications (NASDAQ:ZM - Get Free Report) was upgraded by equities researchers at Rosenblatt Securities from a "neutral" rating to a "buy" rating in a research note issued on Thursday, MarketBeat.com reports. The brokerage currently has a $75.00 target price on the stock. Rosenblatt Securities' price target suggests a potential upside of 25.13% from the stock's current price.

ZM has been the topic of several other research reports. JPMorgan Chase & Co. cut their price objective on Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, February 27th. Wells Fargo & Company downgraded Zoom Video Communications from an "equal weight" rating to an "underweight" rating and set a $70.00 target price on the stock. in a report on Wednesday, December 20th. Wedbush reaffirmed a "neutral" rating and set a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. BNP Paribas downgraded Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 target price on the stock. in a report on Thursday, January 18th. Finally, Mizuho cut their target price on Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has an average rating of "Hold" and a consensus target price of $77.56.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded up $0.86 during mid-day trading on Thursday, reaching $59.94. 4,223,349 shares of the company were exchanged, compared to its average volume of 3,342,583. The company has a fifty day simple moving average of $64.95 and a 200-day simple moving average of $66.03. Zoom Video Communications has a 12 month low of $58.87 and a 12 month high of $75.90. The firm has a market cap of $18.44 billion, a PE ratio of 29.38 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Sell-side analysts anticipate that Zoom Video Communications will post 2.15 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 27,963 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares in the company, valued at approximately $5,896,777.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Eric S. Yuan sold 27,963 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares in the company, valued at approximately $5,896,777.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Shane Crehan sold 5,099 shares of the company's stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $62.97, for a total value of $321,084.03. The disclosure for this sale can be found here. Insiders have sold 66,249 shares of company stock worth $4,252,841 in the last 90 days. Insiders own 11.28% of the company's stock.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Zoom Video Communications by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company's stock worth $1,683,950,000 after acquiring an additional 721,923 shares in the last quarter. BlackRock Inc. lifted its position in shares of Zoom Video Communications by 0.8% during the first quarter. BlackRock Inc. now owns 12,837,056 shares of the company's stock worth $947,888,000 after acquiring an additional 104,955 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Zoom Video Communications by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company's stock worth $788,463,000 after acquiring an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Zoom Video Communications by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company's stock worth $475,469,000 after acquiring an additional 216,768 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Zoom Video Communications by 61.0% during the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company's stock worth $756,052,000 after acquiring an additional 2,444,294 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

About Zoom Video Communications

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.