Zoom Video Communications (NASDAQ:ZM) Now Covered by Analysts at Wedbush

Wedbush initiated coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a report published on Thursday, MarketBeat.com reports. The firm issued an outperform rating and a $85.00 target price on the stock.

A number of other brokerages have also recently weighed in on ZM. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Thursday, October 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, October 4th. Bank of America lowered their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird cut their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Wells Fargo & Company increased their target price on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $75.32.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $70.52 on Thursday. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $74.77. The stock has a market cap of $21.71 billion, a P/E ratio of 25.28, a P/E/G ratio of 6.05 and a beta of -0.04. The stock’s 50 day simple moving average is $66.94 and its 200-day simple moving average is $62.62.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Zoom Video Communications will post 2.76 EPS for the current fiscal year.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total value of $135,810.40. Following the transaction, the chief executive officer now directly owns 90,354 shares in the company, valued at approximately $5,070,666.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the transaction, the chief executive officer now owns 90,354 shares of the company’s stock, valued at approximately $5,070,666.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 10,520 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $68.59, for a total value of $721,566.80. Following the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $135,671.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,762 shares of company stock valued at $10,584,251 in the last ninety days. 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 added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications during the second quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications during the second quarter worth about $41,000. Versant Capital Management Inc increased its holdings in Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after buying an additional 893 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Zoom Video Communications by 69.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after acquiring an additional 692 shares during the period. Institutional investors and hedge funds 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.