Zoom Video Communications’ (ZM) Outperform Rating Reiterated at Royal Bank of Canada

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $95.00 price target on the stock. Royal Bank of Canada’s price target suggests a potential upside of 44.46% from the stock’s current price.

A number of other brokerages also recently commented on ZM. Barclays cut their price objective on Zoom Video Communications from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Tuesday. HSBC began coverage on Zoom Video Communications in a research report on Friday, September 15th. They issued a “buy” rating and a $83.00 price target for the company. 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. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus cut their price target on shares of Zoom Video Communications from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, October 4th. Seventeen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.55.

Zoom Video Communications Stock Down 0.4 %

ZM stock traded down $0.24 during mid-day trading on Tuesday, reaching $65.76. The company had a trading volume of 10,155,730 shares, compared to its average volume of 3,755,968. Zoom Video Communications has a one year low of $58.87 and a one year high of $85.13. The stock has a market capitalization of $19.79 billion, a P/E ratio of 149.95, a P/E/G ratio of 1.07 and a beta of -0.16. The stock’s 50-day simple moving average is $64.83 and its two-hundred day simple moving average is $67.15.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, November 20th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.21. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. Zoom Video Communications’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, research analysts forecast that Zoom Video Communications will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 11,208 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $59.87, for a total value of $671,022.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Eric S. Yuan sold 11,208 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $59.87, for a total transaction of $671,022.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 1,586 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $70.69, for a total transaction of $112,114.34. Following the sale, the insider now directly owns 58,306 shares in the company, valued at approximately $4,121,651.14. The disclosure for this sale can be found here. Insiders have sold a total of 157,375 shares of company stock valued at $10,417,755 over the last three months. 11.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of ZM. Global Wealth Management Investment Advisory Inc. increased its stake in Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Neo Ivy Capital Management boosted its holdings in shares of 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 during the period. Covestor Ltd increased its position in shares of 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 acquiring an additional 171 shares in the last quarter. AM Squared Ltd acquired a new stake in shares of Zoom Video Communications during the third quarter worth $28,000. Finally, Money Concepts Capital Corp lifted its position in Zoom Video Communications by 821.2% in the 4th quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after acquiring an additional 427 shares in the last quarter. 54.85% of the stock is owned by institutional investors.

About Zoom Video Communications

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.