BidaskClub upgraded shares of Zoom Video Communications (NASDAQ:ZM) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning, BidAskClub reports.
Several other brokerages have also recently weighed in on ZM. Zacks Investment Research cut shares of Zoom Video Communications from a buy rating to a hold rating in a research report on Saturday, February 8th. Bank of America increased their price objective on shares of Zoom Video Communications from $87.00 to $130.00 and gave the company a buy rating in a research report on Thursday. ValuEngine upgraded shares of Zoom Video Communications from a hold rating to a buy rating in a research report on Tuesday, March 3rd. Stifel Nicolaus lifted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a hold rating in a research note on Thursday. Finally, Guggenheim boosted their target price on shares of Zoom Video Communications from $90.00 to $135.00 and gave the stock a buy rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $94.63.
Zoom Video Communications stock traded down $10.68 during midday trading on Thursday, reaching $114.32. 22,911,562 shares of the stock traded hands, compared to its average volume of 8,708,562. The stock’s fifty day moving average is $90.16 and its 200-day moving average is $78.14. Zoom Video Communications has a 12 month low of $59.94 and a 12 month high of $129.83. The stock has a market cap of $34.55 billion and a P/E ratio of 1,429.18. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.06.
Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.16. The business had revenue of $188.25 million for the quarter, compared to the consensus estimate of $176.88 million. Zoom Video Communications had a return on equity of 3.40% and a net margin of 3.73%. The company’s revenue was up 77.9% on a year-over-year basis. On average, equities analysts predict that Zoom Video Communications will post -0.11 EPS for the current fiscal year.
In other news, insider Aparna Bawa sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $78.00, for a total value of $585,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $100.94, for a total value of $5,047,000.00. Following the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $5,047,000. The disclosure for this sale can be found here. Insiders sold a total of 504,596 shares of company stock valued at $43,075,680 in the last 90 days.
A number of institutional investors and hedge funds have recently bought and sold shares of ZM. NEXT Financial Group Inc increased its stake in Zoom Video Communications by 4,344.4% in the fourth quarter. NEXT Financial Group Inc now owns 400 shares of the company’s stock worth $27,000 after purchasing an additional 391 shares during the period. Verus Capital Partners LLC bought a new stake in shares of Zoom Video Communications during the fourth quarter worth $27,000. Coastal Investment Advisors Inc. lifted its position in shares of Zoom Video Communications by 466.7% during the fourth quarter. Coastal Investment Advisors Inc. now owns 425 shares of the company’s stock worth $32,000 after purchasing an additional 350 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Zoom Video Communications during the third quarter valued at $33,000. Finally, Parallel Advisors LLC purchased a new stake in shares of Zoom Video Communications during the third quarter valued at $54,000. Institutional investors own 22.63% of the company’s stock.
Zoom Video Communications Company Profile
Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company’s cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.