Analysts’ Recent Ratings Changes for Zoom Video Communications (ZM)

Zoom Video Communications (NASDAQ: ZM) has recently received a number of price target changes and ratings updates:

  • 5/30/2022 – Zoom Video Communications was upgraded by analysts at Daiwa Capital Markets from an “underperform” rating to an “outperform” rating. They now have a $121.00 price target on the stock, up previously from $107.00.
  • 5/25/2022 – Zoom Video Communications had its price target lowered by analysts at Guggenheim to $130.00.
  • 5/24/2022 – Zoom Video Communications had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $163.00 to $142.00. They now have a “neutral” rating on the stock.
  • 5/24/2022 – Zoom Video Communications had its price target lowered by analysts at Citigroup Inc. from $118.00 to $99.00. They now have a “neutral” rating on the stock.
  • 5/24/2022 – Zoom Video Communications had its price target raised by analysts at Benchmark Co. from $124.00 to $128.00. They now have a “buy” rating on the stock.
  • 5/24/2022 – Zoom Video Communications had its price target lowered by analysts at Stifel Nicolaus from $150.00 to $120.00.
  • 5/24/2022 – Zoom Video Communications had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $155.00 to $105.00.
  • 5/24/2022 – Zoom Video Communications had its price target lowered by analysts at Royal Bank of Canada from $200.00 to $150.00.
  • 5/19/2022 – Zoom Video Communications had its price target lowered by analysts at Barclays PLC from $150.00 to $90.00. They now have an “equal weight” rating on the stock.
  • 5/18/2022 – Zoom Video Communications had its price target lowered by analysts at UBS Group AG from $130.00 to $100.00. They now have a “na” rating on the stock.
  • 5/16/2022 – Zoom Video Communications was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $99.00 price target on the stock. According to Zacks, “Zoom gained significant traction from the coronavirus-induced remote-working and strong demand for Zoom Phone. The company’s subscriber base jumped year-over-year, while enterprise customer base also grew rapidly. Easy to deploy, use, manage and solid scalability continue making Zoom’s software more popular among its customers. The company’s expanding international presence is a key catalyst. The company’s strong free cash-flow generating ability is noteworthy. However, its growth in the Online business, which represents half of revenues, has been slower than the enterprise business due to the impact of the pandemic. Moreover, acute competition from the likes of Microsoft and Cisco in the video-communication space does not bode well. Notably, shares of the company have underperformed the industry on a year-to-date basis.”
  • 5/16/2022 – Zoom Video Communications had its price target lowered by analysts at Citigroup Inc. from $139.00 to $118.00.
  • 5/13/2022 – Zoom Video Communications had its price target lowered by analysts at BTIG Research from $180.00 to $150.00.
  • 5/12/2022 – Zoom Video Communications was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $96.00 price target on the stock, down previously from $157.00.
  • 4/18/2022 – Zoom Video Communications was upgraded by analysts at TheStreet from a “d” rating to a “c” rating.

ZM stock opened at $112.24 on Friday. The firm has a market cap of $33.57 billion, a PE ratio of 27.24, a P/E/G ratio of 3.15 and a beta of -0.67. The firm’s fifty day moving average is $104.61 and its 200 day moving average is $142.47. Zoom Video Communications, Inc. has a one year low of $79.03 and a one year high of $406.48.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings results on Monday, May 23rd. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.35 by $0.12. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Zoom Video Communications had a net margin of 29.91% and a return on equity of 16.56%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.97 earnings per share. Research analysts predict that Zoom Video Communications, Inc. will post 1.75 EPS for the current year.

In other news, insider Velchamy Sankarlingam sold 2,256 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $111.69, for a total value of $251,972.64. Following the transaction, the insider now directly owns 5,836 shares of the company’s stock, valued at $651,822.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 15,625 shares of the firm’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $109.43, for a total transaction of $1,709,843.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,234 shares of company stock worth $7,085,377. Insiders own 11.24% of the company’s stock.

A number of hedge funds have recently modified their holdings of ZM. Rise Advisors LLC purchased a new position in Zoom Video Communications during the fourth quarter worth about $26,000. Ellevest Inc. raised its stake in Zoom Video Communications by 94.8% during the fourth quarter. Ellevest Inc. now owns 150 shares of the company’s stock worth $28,000 after purchasing an additional 73 shares during the period. BerganKDV Wealth Management LLC raised its stake in Zoom Video Communications by 144.4% during the fourth quarter. BerganKDV Wealth Management LLC now owns 154 shares of the company’s stock worth $28,000 after purchasing an additional 91 shares during the period. Global Trust Asset Management LLC increased its position in shares of Zoom Video Communications by 1,035.7% during the fourth quarter. Global Trust Asset Management LLC now owns 159 shares of the company’s stock valued at $29,000 after acquiring an additional 145 shares during the last quarter. Finally, City State Bank acquired a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $29,000. 55.94% of the stock is currently owned by institutional investors.

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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