KeyCorp Begins Coverage on Zoom Video Communications (NASDAQ:ZM)

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

Other research analysts have also recently issued reports about the stock. Needham & Company LLC upgraded 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 report on Thursday, May 22nd. Scotiabank increased their price objective on shares of Zoom Video Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Friday, May 16th. Stifel Nicolaus decreased their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of Zoom Video Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Mizuho decreased their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications has a consensus rating of "Hold" and an average price target of $87.00.

Zoom Video Communications Stock Down 0.1%

NASDAQ ZM traded down $0.09 on Friday, hitting $80.26. The stock had a trading volume of 1,965,783 shares, compared to its average volume of 2,968,293. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The stock has a market cap of $24.28 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 5.48 and a beta of 0.71. The company's 50-day moving average is $76.82 and its two-hundred day moving average is $79.64.

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

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the 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 completion of the sale, the director now owns 169,452 shares in the company, valued at $13,193,532.72. This represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was 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 owns 1,978 shares of the company's stock, valued at approximately $143,583.02. The trade was a 89.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,459 shares of company stock worth $6,669,338. 11.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZM. Wayfinding Financial LLC acquired a new stake in Zoom Video Communications in the 1st quarter worth $25,000. SouthState Corp acquired a new stake in Zoom Video Communications in the 1st quarter worth $25,000. 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 worth $28,000 after purchasing an additional 190 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Zoom Video Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after purchasing an additional 246 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors 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.