Zoom Video Communications (NASDAQ:ZM) Upgraded at Wall Street Zen

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

A number of other research analysts also recently commented on the stock. Piper Sandler increased their price target on shares of Zoom Video Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Barclays lowered their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. UBS Group lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Benchmark reiterated a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 20th. Finally, JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research report on Thursday, May 22nd. Fifteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of "Moderate Buy" and an average target price of $87.61.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded up $0.27 during trading on Friday, hitting $79.94. 1,906,406 shares of the company were exchanged, compared to its average volume of 2,980,140. The company has a market cap of $24.40 billion, a PE ratio of 26.65, a P/E/G 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. The stock has a 50 day moving average of $76.22 and a 200 day moving average of $79.70.

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 firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the firm earned $1.35 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Activity

In other news, COO Aparna Bawa sold 16,099 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $143,583.02. This trade represents a 89.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the sale, the director now owns 157,824 shares of the company's stock, valued at $12,439,687.68. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock valued at $12,132,994 in the last ninety days. 11.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wayfinding Financial LLC purchased a new stake in Zoom Video Communications during the first quarter valued at $25,000. SouthState Corp bought a new stake in shares of Zoom Video Communications in the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. lifted its stake in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Zoom Video Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after acquiring an additional 246 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

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.