Zoom Video Communications (NASDAQ:ZM) Stock Rating Upgraded by Scotiabank

Zoom Video Communications (NASDAQ:ZM) was upgraded by equities researchers at Scotiabank to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on ZM. Benchmark upped their target price on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Wedbush started coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.26.

Zoom Video Communications Trading Up 1.4 %

Shares of NASDAQ ZM opened at $78.86 on Tuesday. The firm has a market capitalization of $24.27 billion, a P/E ratio of 28.27, a P/E/G ratio of 6.64 and a beta of -0.05. The firm’s 50-day moving average price is $72.77 and its 200-day moving average price is $65.21. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $87.15.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results 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 the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS. Equities research analysts forecast that Zoom Video Communications will post 2.77 EPS for the current year.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 14,151 shares of Zoom Video Communications stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $68.12, for a total transaction of $963,966.12. Following the completion of the transaction, the chief financial officer now owns 140,427 shares of the company’s stock, valued at $9,565,887.24. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock valued at $26,796,191 in the last three months. Company insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the period. State Street Corp grew its stake in Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after acquiring an additional 134,559 shares in the last quarter. AQR Capital Management LLC increased its holdings in 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 worth $337,233,000 after acquiring an additional 2,520,987 shares during the period. Pacer Advisors Inc. boosted its holdings in Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after purchasing an additional 233,241 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after purchasing an additional 1,855,679 shares in the last quarter. 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.