Zoom Video Communications (NASDAQ:ZM – Free Report) had its target price increased by Morgan Stanley from $68.00 to $86.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.
A number of other brokerages also recently issued reports on ZM. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Thursday, October 10th. Bank of America lowered their price target on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, October 4th. Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $76.26.
Check Out Our Latest Stock Analysis on Zoom Video Communications
Zoom Video Communications Trading Down 1.8 %
Zoom Video Communications (NASDAQ:ZM – Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Zoom Video Communications will post 2.74 earnings per share for the current year.
Insider Activity at Zoom Video Communications
In related news, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly Steckelberg sold 5,013 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total value of $299,276.10. The disclosure for this sale can be found here. Insiders sold 372,121 shares of company stock worth $27,095,467 in the last three months. 10.78% of the stock is owned by company insiders.
Institutional Investors Weigh In On Zoom Video Communications
A number of institutional investors have recently added to or reduced their stakes in ZM. Pacer Advisors Inc. increased its stake in Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after purchasing an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after acquiring an additional 2,520,987 shares during the last quarter. FMR LLC boosted its position in shares of Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after acquiring an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC raised its stake in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the period. Finally, Eagle Asset Management Inc. purchased a new stake in Zoom Video Communications during the third quarter valued at about $62,038,000. Hedge funds and other 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.
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