Zoom Video Communications’ (ZM) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note issued to investors on Monday morning, Benzinga reports. Benchmark currently has a $83.00 target price on the stock.

Several other brokerages also recently commented on ZM. Robert W. Baird cut their price target on shares of Zoom Video Communications from $90.00 to $84.00 and set an outperform rating on the stock in a report on Tuesday, May 21st. Rosenblatt Securities increased their target price on shares of Zoom Video Communications from $75.00 to $78.00 and gave the company a buy rating in a research report on Tuesday, May 21st. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a hold rating for the company in a research report on Tuesday, May 21st. Royal Bank of Canada reiterated an outperform rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, May 21st. Finally, Evercore ISI cut their price objective on shares of Zoom Video Communications from $72.00 to $70.00 and set an in-line rating on the stock in a research note on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $75.22.

Zoom Video Communications Stock Up 0.9 %

ZM opened at $56.21 on Monday. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 8.57 and a beta of -0.05. The firm has a 50-day moving average price of $58.85 and a 200-day moving average price of $62.40. Zoom Video Communications has a twelve month low of $55.60 and a twelve month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.23. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. On average, sell-side analysts expect that Zoom Video Communications will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total transaction of $317,243.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total transaction of $317,243.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,589 shares of the company’s stock in a transaction on Sunday, June 9th. The shares were sold at an average price of $62.42, for a total value of $224,025.38. Following the completion of the transaction, the insider now owns 81,287 shares of the company’s stock, valued at $5,073,934.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,629 shares of company stock valued at $6,921,515. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Video Communications

Several large investors have recently made changes to their positions in the business. Principal Securities Inc. bought a new position in Zoom Video Communications in the fourth quarter valued at about $25,000. Quadrant Capital Group LLC grew its stake in Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in Zoom Video Communications in the fourth quarter valued at approximately $32,000. Innealta Capital LLC bought a new position in Zoom Video Communications in the second quarter valued at approximately $33,000. Finally, Rakuten Securities Inc. bought a new position in Zoom Video Communications in the fourth quarter valued at approximately $43,000. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Company Profile

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.