Zoom Video Communications (NASDAQ:ZM) had its target price reduced by equities research analysts at UBS Group from $315.00 to $285.00 in a report issued on Friday, The Fly reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 11.44% from the stock’s previous close.
Other analysts have also recently issued research reports about the company. Guggenheim reaffirmed a “buy” rating on shares of Zoom Video Communications in a research report on Monday, November 1st. Citigroup reduced their price objective on Zoom Video Communications from $380.00 to $304.00 and set a “neutral” rating for the company in a research note on Thursday, September 2nd. Piper Sandler reduced their price objective on Zoom Video Communications from $464.00 to $369.00 and set an “overweight” rating for the company in a research note on Tuesday, August 31st. Evercore ISI started coverage on Zoom Video Communications in a research note on Friday, October 29th. They set an “in-line” rating and a $255.00 price objective for the company. Finally, Bank of America reduced their price objective on Zoom Video Communications from $480.00 to $385.00 and set a “buy” rating for the company in a research note on Tuesday, August 31st. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $367.56.
Zoom Video Communications stock opened at $255.75 on Friday. The business has a fifty day moving average price of $269.77 and a 200-day moving average price of $319.59. Zoom Video Communications has a 1-year low of $245.16 and a 1-year high of $486.83. The stock has a market capitalization of $75.99 billion, a price-to-earnings ratio of 77.27, a PEG ratio of 3.58 and a beta of -1.28.
Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Sunday, August 29th. The company reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.20. Zoom Video Communications had a return on equity of 29.83% and a net margin of 27.58%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $990.27 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s revenue was up 54.0% compared to the same quarter last year. As a group, equities research analysts forecast that Zoom Video Communications will post 3.33 EPS for the current year.
In other news, CFO Kelly Steckelberg sold 6,700 shares of the company’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $294.20, for a total transaction of $1,971,140.00. Following the sale, the chief financial officer now owns 6,700 shares of the company’s stock, valued at $1,971,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 15,625 shares of the company’s stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $260.32, for a total value of $4,067,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 109,697 shares of company stock worth $30,180,093. 12.27% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of ZM. Herold Advisors Inc. acquired a new position in Zoom Video Communications in the third quarter valued at $26,000. MUFG Americas Holdings Corp acquired a new stake in shares of Zoom Video Communications during the third quarter worth about $26,000. Lake Point Wealth Management acquired a new stake in shares of Zoom Video Communications during the second quarter worth about $28,000. Canton Hathaway LLC acquired a new stake in shares of Zoom Video Communications during the third quarter worth about $30,000. Finally, Moors & Cabot Inc. boosted its stake in shares of Zoom Video Communications by 2,743.1% during the third quarter. Moors & Cabot Inc. now owns 29,000 shares of the company’s stock worth $30,000 after buying an additional 27,980 shares during the period. 46.51% of the stock is currently owned by hedge funds and other institutional investors.
About Zoom Video Communications
Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.