Zoom Video Communications (NASDAQ:ZM) Upgraded at KeyCorp

Zoom Video Communications (NASDAQ:ZM - Get Free Report) was upgraded by equities researchers at KeyCorp to an "underweight" rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm presently has a $73.00 price target on the stock. KeyCorp's price objective would suggest a potential downside of 8.07% from the company's current price.

A number of other equities analysts have also recently weighed in on ZM. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. Piper Sandler lifted their price target on shares of Zoom Video Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Barclays lowered their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Bank of America upped their price objective on shares of Zoom Video Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 target price on shares of Zoom Video Communications in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $87.00.

Zoom Video Communications Trading Down 1.1%

Shares of ZM stock traded down $0.85 during trading hours on Thursday, reaching $79.41. The stock had a trading volume of 2,011,113 shares, compared to its average volume of 2,961,812. The stock's fifty day simple moving average is $77.04 and its 200 day simple moving average is $79.60. The firm has a market capitalization of $24.03 billion, a PE ratio of 26.47, a PEG ratio of 5.48 and a beta of 0.71. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.35 EPS. As a group, equities research analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 41,121 shares of the firm's stock in a transaction on 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 is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the transaction, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,459 shares of company stock valued at $6,669,338. 11.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in Zoom Video Communications during the 1st quarter valued at $25,000. SouthState Corp bought a new position in shares of Zoom Video Communications during the first quarter valued at $25,000. Global X Japan Co. Ltd. boosted its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Zoom Video Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after buying an additional 246 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings 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 buying an additional 258 shares in the last quarter. 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.