Zoom Video Communications’ (ZM) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report published on Tuesday, Benzinga reports. They currently have a $75.00 price objective on the stock.

Several other equities research analysts also recently commented on the stock. Wedbush reaffirmed a neutral rating and issued a $80.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Wells Fargo & Company downgraded shares of Zoom Video Communications from an equal weight rating to an underweight rating and set a $70.00 price objective for the company. in a research report on Wednesday, December 20th. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a hold rating and a $70.00 price objective for the company. BNP Paribas downgraded shares of Zoom Video Communications from a neutral rating to an underperform rating and set a $60.00 price objective for the company. in a research report on Thursday, January 18th. Finally, Mizuho lowered their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a buy rating for the company in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $77.56.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $65.37 on Tuesday. Zoom Video Communications has a 52 week low of $58.87 and a 52 week high of $75.90. The company has a market capitalization of $20.11 billion, a PE ratio of 32.04 and a beta of -0.06. The company has a 50 day moving average price of $66.23 and a two-hundred day moving average price of $66.79.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, sell-side analysts forecast that Zoom Video Communications will post 2.15 earnings per share for the current year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 19,207 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $67.00, for a total value of $1,286,869.00. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at $132,526. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the sale, the insider now owns 71,956 shares in the company, valued at approximately $5,036,920. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 19,207 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $67.00, for a total transaction of $1,286,869.00. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $132,526. The disclosure for this sale can be found here. Insiders sold a total of 67,075 shares of company stock worth $4,534,500 over the last quarter. 11.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently bought and sold shares of the business. Pearl River Capital LLC increased its holdings in Zoom Video Communications by 31.6% in the 3rd quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after buying an additional 8,928 shares during the period. California Public Employees Retirement System increased its holdings in Zoom Video Communications by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock valued at $32,231,000 after buying an additional 14,945 shares during the period. CIBC Asset Management Inc increased its holdings in Zoom Video Communications by 15.9% in the 3rd quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock valued at $2,962,000 after buying an additional 5,826 shares during the period. Galvin Gaustad & Stein LLC increased its holdings in Zoom Video Communications by 25.4% in the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after buying an additional 66,433 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after buying an additional 1,000,005 shares during the period. 66.54% of the stock is 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.