Zoom Video Communications (NASDAQ:ZM) Upgraded 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 report issued on Saturday morning.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler boosted their target price on shares of Zoom Video Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Mizuho reduced their target price on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus lowered their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. Wells Fargo & Company increased their price objective on shares of Zoom Video Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Finally, Needham & Company LLC raised Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target on the stock in a research report on Thursday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.61.

Zoom Video Communications Price Performance

NASDAQ:ZM traded up $0.90 during trading hours on Friday, reaching $79.80. The company's stock had a trading volume of 1,131,484 shares, compared to its average volume of 2,976,846. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. The business's 50-day moving average is $76.12 and its 200-day moving average is $79.74. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80.

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 for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. Zoom Video Communications's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.35 earnings per share. On average, sell-side analysts predict that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the sale, the director now directly owns 169,452 shares in the company, valued at $13,193,532.72. The trade was a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock worth $12,132,994 over the last three months. 11.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Zoom Video Communications during the first quarter worth $25,000. SouthState Corp acquired a new stake in shares of Zoom Video Communications in the first 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 boosted its stake in 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 in the last quarter. Finally, Avior Wealth Management LLC increased its position in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

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.