Zoom Video Communications (NASDAQ:ZM) Now Covered by KeyCorp

KeyCorp assumed coverage on shares of Zoom Video Communications (NASDAQ:ZM - Free Report) in a research note released on Friday, Marketbeat.com reports. The brokerage issued an underweight rating and a $73.00 price objective on the stock.

Several other research analysts have also recently weighed in on ZM. Wall Street Zen raised shares of Zoom Video Communications from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Citigroup decreased their target price on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. William Blair reissued an "outperform" rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Needham & Company LLC raised Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price on the stock in a research note on Thursday, May 22nd. Finally, Benchmark reissued a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of "Hold" and a consensus price target of $87.00.

Zoom Video Communications Trading Down 1.2%

NASDAQ:ZM traded down $0.98 on Friday, hitting $80.35. The company had a trading volume of 2,342,615 shares, compared to its average volume of 2,970,484. The firm has a 50 day moving average of $76.69 and a two-hundred day moving average of $79.63. The stock has a market capitalization of $24.53 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 5.48 and a beta of 0.79. 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 posted its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping 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 company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. The firm's quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Zoom Video Communications will post 2.93 EPS for the current year.

Insiders Place Their Bets

In other news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 155,349 shares of the company's stock, valued at approximately $12,532,003.83. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $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. Insiders have sold a total of 91,459 shares of company stock valued at $6,669,338 in the last quarter. Insiders own 11.51% of the company's stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of large investors have recently made changes to their positions in ZM. Vanguard Group Inc. grew its holdings in Zoom Video Communications by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the last quarter. FMR LLC lifted its stake in Zoom Video Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after purchasing an additional 282,645 shares during the period. Norges Bank acquired a new stake in Zoom Video Communications in the 4th quarter valued at $751,908,000. AQR Capital Management LLC grew its holdings in shares of Zoom Video Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock worth $615,237,000 after purchasing an additional 373,509 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Zoom Video Communications by 0.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock worth $473,732,000 after buying an additional 36,210 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

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.