Zoom Video Communications (NASDAQ:ZM) Upgraded to Strong Sell at KeyCorp

Zoom Video Communications (NASDAQ:ZM - Get Free Report) was upgraded by stock analysts at KeyCorp to a "strong sell" rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. William Blair reaffirmed an "outperform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. Piper Sandler lifted their price objective on Zoom Video Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a report on Thursday, May 22nd. Finally, Stifel Nicolaus lowered their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $87.00.

Zoom Video Communications Trading Down 1.2%

NASDAQ:ZM opened at $80.35 on Thursday. The stock has a market cap of $24.53 billion, a P/E ratio of 26.78, a PEG ratio of 5.48 and a beta of 0.79. The stock has a 50 day simple moving average of $76.82 and a 200 day simple moving average of $79.65. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80.

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

Insider Buying and Selling

In other Zoom Video Communications news, 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 value of $851,342.49. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction dated 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 trade represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,459 shares of company stock worth $6,669,338 in the last 90 days. Insiders own 11.51% of the company's stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of Zoom Video Communications during the 1st quarter valued at about $3,377,000. Geneos Wealth Management Inc. boosted its position in shares of Zoom Video Communications by 82.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company's stock valued at $65,000 after purchasing an additional 397 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Zoom Video Communications by 59.1% during the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company's stock valued at $1,238,000 after purchasing an additional 6,235 shares in the last quarter. Bayforest Capital Ltd boosted its position in shares of Zoom Video Communications by 432.5% during the 1st quarter. Bayforest Capital Ltd now owns 7,934 shares of the company's stock valued at $585,000 after purchasing an additional 6,444 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Zoom Video Communications during the 1st quarter valued at about $7,209,000. 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.

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