Zoom Video Communications (NASDAQ:ZM) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Zoom Video Communications (NASDAQ:ZMFree Report) in a research report sent to investors on Tuesday morning, MarketBeat reports. The firm issued a hold rating and a $70.00 target price on the stock.

Several other equities analysts have also issued reports on ZM. Stifel Nicolaus reissued a hold rating and issued a $70.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 21st. BNP Paribas lowered shares of Zoom Video Communications from a neutral rating to an underperform rating and set a $60.00 target price on the stock. in a research report on Thursday, January 18th. Benchmark reaffirmed a buy rating and set a $83.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 21st. Piper Sandler upped their price target on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a neutral rating in a report on Friday, January 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a neutral rating for the company in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $77.56.

Check Out Our Latest Analysis on ZM

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $66.54 on Tuesday. Zoom Video Communications has a 52-week low of $58.87 and a 52-week high of $75.90. The stock has a market cap of $20.47 billion, a price-to-earnings ratio of 32.62 and a beta of -0.06. The firm has a fifty day moving average of $66.52 and a 200-day moving average of $67.01.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last announced its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. On average, sell-side analysts predict that Zoom Video Communications will post 2.15 earnings per share for the current year.

Insider Activity

In other news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $66.46, for a total transaction of $332,765.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $66.46, for a total value of $332,765.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 19,207 shares of Zoom Video Communications stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $67.00, for a total transaction of $1,286,869.00. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $132,526. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,075 shares of company stock valued at $4,534,500. Insiders own 11.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Zoom Video Communications by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after purchasing an additional 721,923 shares in the last quarter. BlackRock Inc. increased its stake in shares of Zoom Video Communications by 4.5% in the second quarter. BlackRock Inc. now owns 13,418,767 shares of the company’s stock worth $910,866,000 after purchasing an additional 581,711 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Zoom Video Communications by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after purchasing an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Zoom Video Communications by 3.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock worth $475,469,000 after purchasing an additional 216,768 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Zoom Video Communications by 61.0% in the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after purchasing an additional 2,444,294 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

About Zoom Video Communications

(Get Free Report)

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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