Wall Street Zen Upgrades Zoom Video Communications (NASDAQ:ZM) to "Strong-Buy"

Zoom Video Communications (NASDAQ:ZM - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Sunday.

Several other equities research analysts have also issued reports on ZM. Needham & Company LLC raised shares of Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a research report on Thursday, May 22nd. Mizuho dropped their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. UBS Group dropped their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. KeyCorp began coverage on shares of Zoom Video Communications in a research note on Friday, June 6th. They issued an "underweight" rating and a $73.00 price target for the company. Finally, Rosenblatt Securities lifted their price target on shares of Zoom Video Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications has an average rating of "Hold" and an average price target of $87.00.

Zoom Video Communications Trading Down 1.0%

Shares of Zoom Video Communications stock opened at $76.63 on Friday. The company has a fifty day simple moving average of $77.64 and a 200-day simple moving average of $79.43. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 5.48 and a beta of 0.71.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. Zoom Video Communications's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 EPS. On average, analysts forecast that Zoom Video Communications will post 2.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $72.18, for a total transaction of $2,968,113.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $80.67, for a total value of $199,658.25. Following the sale, the director now owns 155,349 shares of the company's stock, valued at approximately $12,532,003.83. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,671 shares of company stock valued at $7,078,546 in the last ninety days. 11.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in Zoom Video Communications by 87.4% in the fourth quarter. Van ECK Associates Corp now owns 78,679 shares of the company's stock worth $6,421,000 after purchasing an additional 36,695 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 8.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock valued at $7,868,000 after purchasing an additional 7,518 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Zoom Video Communications by 5.3% during the fourth quarter. New York State Teachers Retirement System now owns 24,127 shares of the company's stock worth $1,969,000 after acquiring an additional 1,206 shares during the period. Rhumbline Advisers lifted its holdings in Zoom Video Communications by 0.7% during the fourth quarter. Rhumbline Advisers now owns 313,425 shares of the company's stock worth $25,579,000 after acquiring an additional 2,251 shares during the period. Finally, Everhart Financial Group Inc. lifted its holdings in Zoom Video Communications by 15.5% during the fourth quarter. Everhart Financial Group Inc. now owns 6,098 shares of the company's stock worth $498,000 after acquiring an additional 820 shares during the period. Institutional investors and hedge funds 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.

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