Zoom Video Communications’ (ZM) “Neutral” Rating Reiterated at Cantor Fitzgerald

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “neutral” rating reiterated by analysts at Cantor Fitzgerald in a report released on Tuesday,Benzinga reports. They presently have a $87.00 target price on the stock. Cantor Fitzgerald’s target price points to a potential upside of 14.15% from the company’s previous close.

A number of other research firms have also recently commented on ZM. Benchmark boosted their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Sixteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Trading Down 7.6 %

Shares of NASDAQ ZM opened at $76.22 on Tuesday. The stock has a fifty day moving average price of $83.13 and a 200 day moving average price of $76.55. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market cap of $23.36 billion and a P/E ratio of 25.78.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, February 24th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.53). The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.19 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. On average, sell-side analysts forecast that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the transaction, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors have recently made changes to their positions in ZM. Global X Japan Co. Ltd. raised its position in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Video Communications in the 4th quarter valued at $30,000. Finally, Colonial Trust Co SC bought a new stake in Zoom Video Communications in the fourth quarter worth $32,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.