Zoom Video Communications (NASDAQ:ZM) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Zoom Video Communications (NASDAQ:ZM - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Other research analysts have also issued research reports about the company. Piper Sandler upped their price target on Zoom Video Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Barclays decreased their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Mizuho cut their price target on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley raised their target price on Zoom Video Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC upgraded shares of Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $87.00.

Zoom Video Communications Stock Down 1.1%

Zoom Video Communications stock traded down $0.85 during midday trading on Friday, hitting $79.41. 2,011,113 shares of the stock were exchanged, compared to its average volume of 2,961,812. The stock has a market capitalization of $24.03 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71. The business's 50-day moving average price is $76.92 and its 200-day moving average price is $79.60. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

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

Insider Activity at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the sale, the director now directly owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the sale, the chief operating officer now owns 1,978 shares of the company's stock, valued at approximately $143,583.02. The trade was a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,459 shares of company stock valued at $6,669,338. Insiders own 11.51% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Choreo LLC acquired a new position in Zoom Video Communications during the 4th quarter worth $308,000. Strategic Financial Concepts LLC bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $831,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Zoom Video Communications by 10.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,829 shares of the company's stock worth $2,190,000 after purchasing an additional 2,523 shares during the period. Global X Japan Co. Ltd. grew its position in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares in the last quarter. Finally, Savant Capital LLC increased its stake in Zoom Video Communications by 5.4% during the 4th quarter. Savant Capital LLC now owns 34,400 shares of the company's stock valued at $2,807,000 after buying an additional 1,773 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.