Zoom Video Communications (NASDAQ:ZM) Earns “Hold” Rating from Stifel Nicolaus

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “hold” rating restated by analysts at Stifel Nicolaus in a report released on Tuesday, Benzinga reports. They presently have a $70.00 target price on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 6.21% from the stock’s current price.

A number of other equities analysts have also recently commented on ZM. Barclays decreased their target price on Zoom Video Communications from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a report on Wednesday, August 23rd. Mizuho reaffirmed a “buy” rating and set a $100.00 price target on shares of Zoom Video Communications in a report on Tuesday, August 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Zoom Video Communications from $85.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, August 22nd. Seventeen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.23.

Zoom Video Communications Price Performance

NASDAQ ZM traded down $0.09 during trading hours on Tuesday, hitting $65.91. The company’s stock had a trading volume of 12,099,398 shares, compared to its average volume of 3,764,526. Zoom Video Communications has a 12 month low of $58.87 and a 12 month high of $85.13. The company’s 50 day simple moving average is $64.83 and its two-hundred day simple moving average is $67.15. The company has a market cap of $19.84 billion, a P/E ratio of 149.80, a price-to-earnings-growth ratio of 1.07 and a beta of -0.16.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, November 20th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.21. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, research analysts predict that Zoom Video Communications will post 1.77 earnings per share for the current fiscal year.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,586 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $70.69, for a total value of $112,114.34. Following the completion of the sale, the insider now owns 58,306 shares of the company’s stock, valued at $4,121,651.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Velchamy Sankarlingam sold 1,586 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $70.69, for a total transaction of $112,114.34. Following the completion of the sale, the insider now owns 58,306 shares in the company, valued at approximately $4,121,651.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Shane Crehan sold 3,722 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $70.69, for a total transaction of $263,108.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,375 shares of company stock worth $10,417,755. Company insiders own 11.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ZM. Global Wealth Management Investment Advisory Inc. raised its position in shares of Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Neo Ivy Capital Management increased its holdings in Zoom Video Communications by 56.8% in the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Covestor Ltd boosted its position in Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company’s stock worth $46,000 after purchasing an additional 171 shares in the last quarter. AM Squared Ltd acquired a new stake in Zoom Video Communications in the third quarter valued at approximately $28,000. Finally, Money Concepts Capital Corp increased its position in shares of Zoom Video Communications by 821.2% in the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after buying an additional 427 shares in the last quarter. 54.85% 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.