Zoom Video Communications’ (ZM) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Tuesday morning, Benzinga reports. They currently have a $75.00 target price on the stock.

Several other research analysts also recently weighed in on the company. Jefferies Financial Group started coverage on Zoom Video Communications in a report on Tuesday, March 19th. They issued a hold rating and a $70.00 price target for the company. Wells Fargo & Company downgraded Zoom Video Communications from an equal weight rating to an underweight rating and set a $70.00 price target for the company. in a report on Wednesday, December 20th. JPMorgan Chase & Co. lowered their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a neutral rating for the company in a research note on Tuesday, February 27th. BNP Paribas cut shares of Zoom Video Communications from a neutral rating to an underperform rating and set a $60.00 price objective for the company. in a research note on Thursday, January 18th. Finally, Mizuho lowered their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $77.56.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $65.37 on Tuesday. Zoom Video Communications has a 1 year low of $58.87 and a 1 year high of $75.90. The company has a market capitalization of $20.11 billion, a P/E ratio of 32.04 and a beta of -0.06. The business has a 50 day moving average price of $66.23 and a 200 day moving average price of $66.79.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. As a group, research analysts expect that Zoom Video Communications will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 15,611 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $67.98, for a total value of $1,061,235.78. Following the completion of the transaction, the insider now directly owns 70,061 shares of the company’s stock, valued at approximately $4,762,746.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 15,611 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $67.98, for a total value of $1,061,235.78. Following the completion of the transaction, the insider now directly owns 70,061 shares of the company’s stock, valued at approximately $4,762,746.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Santiago Subotovsky sold 2,067 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $69.67, for a total transaction of $144,007.89. Following the completion of the transaction, the director now directly owns 159,693 shares of the company’s stock, valued at $11,125,811.31. The disclosure for this sale can be found here. Insiders sold a total of 67,075 shares of company stock valued at $4,534,500 in the last ninety days. Insiders own 11.28% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently modified their holdings of the stock. Principal Securities Inc. acquired a new stake in shares of Zoom Video Communications in the 4th quarter valued at about $25,000. Quadrant Capital Group LLC raised its stake in Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares during the period. AM Squared Ltd acquired a new stake in Zoom Video Communications during the third quarter worth about $28,000. LM Advisors LLC acquired a new stake in Zoom Video Communications during the fourth quarter worth about $29,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Zoom Video Communications during the fourth quarter worth about $32,000. 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.