Zoom Video Communications (NASDAQ:ZM – Get Free Report) had its target price boosted by analysts at Benchmark from $83.00 to $85.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 20.26% from the company’s current price.
A number of other research analysts have also issued reports on ZM. Robert W. Baird dropped their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Morgan Stanley reduced their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Piper Sandler lowered their target price on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.05.
Read Our Latest Stock Analysis on ZM
Zoom Video Communications Stock Performance
Zoom Video Communications (NASDAQ:ZM – Get Free Report) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. Zoom Video Communications’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, sell-side analysts predict that Zoom Video Communications will post 2.74 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the completion of the sale, the chief executive officer now directly owns 90,354 shares in the company, valued at $5,070,666.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Zoom Video Communications news, COO Aparna Bawa sold 10,332 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $56.81, for a total transaction of $586,960.92. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $112,370.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total transaction of $135,810.40. Following the completion of the transaction, the chief executive officer now directly owns 90,354 shares in the company, valued at $5,070,666.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,074 shares of company stock valued at $9,595,146 over the last ninety days. 10.78% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Zoom Video Communications
Hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Zoom Video Communications in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications in the 2nd quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zoom Video Communications in the second quarter valued at about $41,000. Versant Capital Management Inc lifted its position in shares of Zoom Video Communications by 1,257.7% during the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after purchasing an additional 893 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Zoom Video Communications by 69.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock worth $102,000 after purchasing an additional 692 shares during the last quarter. 66.54% of the stock is owned by institutional investors.
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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