Zoom Video Communications (NASDAQ:ZM) Receives Neutral Rating from Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “neutral” rating reiterated by Rosenblatt Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $75.00 price target on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 12.58% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group began coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company. BNP Paribas downgraded Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a research report on Thursday, January 18th. 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. Mizuho reduced their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Zoom Video Communications in a report 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $66.62 on Tuesday. Zoom Video Communications has a 12 month low of $58.87 and a 12 month high of $75.90. The business has a 50-day moving average of $66.26 and a two-hundred day moving average of $66.79. The firm has a market capitalization of $20.49 billion, a PE ratio of 32.66 and a beta of -0.06.

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

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Velchamy Sankarlingam sold 1,553 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the sale, the insider now directly owns 71,956 shares in the company, valued at approximately $5,036,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,931 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $135,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,075 shares of company stock valued at $4,534,500 in the last quarter. Insiders own 11.28% of the company’s stock.

Institutional Trading of Zoom Video Communications

A number of institutional investors and hedge funds have recently made changes to their positions in ZM. Newlands Management Operations LLC increased its position in Zoom Video Communications by 343.2% in the 2nd quarter. Newlands Management Operations LLC now owns 5,785,588 shares of the company’s stock valued at $392,726,000 after acquiring an additional 4,480,051 shares during the period. Renaissance Technologies LLC increased its position in Zoom Video Communications by 61.0% in the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock valued at $756,052,000 after acquiring an additional 2,444,294 shares during the period. Norges Bank acquired a new stake in Zoom Video Communications in the 4th quarter valued at approximately $164,224,000. Acadian Asset Management LLC increased its position in Zoom Video Communications by 639.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after acquiring an additional 1,408,908 shares during the period. Finally, Vanguard Group Inc. increased its position in Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after acquiring an additional 1,000,005 shares during the period. 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.