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

Zoom Video Communications (NASDAQ:ZM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other equities research analysts have also weighed in on the company. Piper Sandler lifted 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. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a report on Thursday, May 22nd. Morgan Stanley upped their price target on Zoom Video Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. UBS Group lowered their price target on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Finally, Stifel Nicolaus lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. One equities research 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. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average target price of $87.00.

Zoom Video Communications Trading Down 1.2%

Shares of NASDAQ ZM opened at $80.35 on Friday. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The stock's 50-day moving average is $76.82 and its 200 day moving average is $79.65.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.17 billion. During the same period last year, the company earned $1.35 EPS. Zoom Video Communications's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts forecast that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $80.67, for a total transaction of $199,658.25. Following the completion of the transaction, the director now directly owns 155,349 shares in the company, valued at $12,532,003.83. The trade was a 1.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction that occurred 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 transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at $143,583.02. This represents a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,459 shares of company stock valued at $6,669,338 in the last ninety days. Insiders own 11.51% of the company's stock.

Institutional Trading of Zoom Video Communications

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new position in Zoom Video Communications in the 1st quarter valued at about $3,377,000. Geneos Wealth Management Inc. boosted its position in Zoom Video Communications by 82.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company's stock valued at $65,000 after buying an additional 397 shares during the last quarter. Intech Investment Management LLC boosted its position in Zoom Video Communications by 59.1% in the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company's stock valued at $1,238,000 after buying an additional 6,235 shares during the last quarter. Bayforest Capital Ltd boosted its position in Zoom Video Communications by 432.5% in the 1st quarter. Bayforest Capital Ltd now owns 7,934 shares of the company's stock valued at $585,000 after buying an additional 6,444 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in Zoom Video Communications in the 1st quarter valued at about $7,209,000. 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.

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