Zoom Video Communications (NASDAQ:ZM) Rating Increased to Strong-Buy 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 published on Saturday.

ZM has been the subject of a number of other research reports. Rosenblatt Securities lifted their target price on Zoom Video Communications from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of Zoom Video Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Benchmark reaffirmed a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, May 20th. 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 report on Thursday, May 22nd. Finally, Scotiabank increased their price objective on shares of Zoom Video Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Friday, May 16th. Fifteen equities research 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 company's stock. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of "Moderate Buy" and an average target price of $87.61.

Zoom Video Communications Price Performance

NASDAQ ZM traded down $0.38 on Friday, reaching $78.90. The company had a trading volume of 3,780,025 shares, compared to its average volume of 2,983,966. The business has a 50 day moving average of $76.06 and a two-hundred day moving average of $79.74. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market cap of $24.08 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $1.35 EPS. The firm's revenue was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Zoom Video Communications will post 2.93 earnings per share for the current fiscal year.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $72.18, for a total transaction of $2,968,113.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock worth $12,132,994 in the last quarter. Corporate insiders own 11.51% of the company's stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of 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 in the 1st quarter worth approximately $25,000. SouthState Corp bought a new stake in Zoom Video Communications during the first quarter valued at about $25,000. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Zoom Video Communications by 177.0% in the first 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, Avior Wealth Management LLC increased its stake in Zoom Video Communications by 291.2% during the fourth 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 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.