Zoom Video Communications (NASDAQ:ZM) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note released on Friday morning,Benzinga reports. Rosenblatt Securities currently has a $78.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Bank of America cut their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Benchmark raised their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised their price objective on Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Finally, Wedbush assumed coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective for the company. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.61.

Zoom Video Communications Trading Up 5.8 %

Shares of NASDAQ:ZM opened at $85.88 on Friday. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $87.15. The business’s fifty day simple moving average is $73.43 and its 200-day simple moving average is $65.49. The company has a market capitalization of $26.43 billion, a PE ratio of 30.78, a P/E/G ratio of 6.93 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.55 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Zoom Video Communications will post 2.77 EPS for the current year.

Insider Activity

In related news, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares in the company, valued at $191,264.81. The trade was a 23.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the transaction, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at approximately $97,830.81. This represents a 51.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock valued at $26,796,191 in the last quarter. 10.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. increased its stake in Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after buying an additional 131 shares in the last quarter. MML Investors Services LLC increased its stake in Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares in the last quarter. MetLife Investment Management LLC increased its stake in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares in the last quarter. Finally, Menard Financial Group LLC increased its stake in Zoom Video Communications by 4.0% during the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after buying an additional 166 shares in the last quarter. 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.