Zoom Video Communications (NASDAQ:ZM) Upgraded to Buy at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Zoom Video Communications (NASDAQ:ZM) from a neutral rating to a buy rating in a research report report published on Thursday, MarketBeat Ratings reports. Rosenblatt Securities currently has $75.00 price target on the stock.

ZM has been the subject of several other research reports. Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They set a hold rating and a $70.00 target price for the company. Mizuho decreased their price objective 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. Wedbush reaffirmed a neutral rating and set a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. BNP Paribas cut Zoom Video Communications from a neutral rating to an underperform rating and set a $60.00 price target for the company. in a research report on Thursday, January 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Zoom Video Communications from $83.00 to $80.00 and set a neutral rating on the stock in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $77.56.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $59.94 on Thursday. The business’s 50-day simple moving average is $64.95 and its two-hundred day simple moving average is $66.03. The company has a market cap of $18.44 billion, a PE ratio of 29.38 and a beta of -0.07. Zoom Video Communications has a fifty-two week low of $58.87 and a fifty-two week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, analysts predict that Zoom Video Communications will post 2.15 EPS for the current fiscal year.

Insider Activity

In related 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 value of $108,710.00. Following the completion of the transaction, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Aparna Bawa sold 816 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at $131,734.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the transaction, the insider now directly owns 71,956 shares of the company’s stock, valued at $5,036,920. The disclosure for this sale can be found here. Insiders sold a total of 66,249 shares of company stock valued at $4,252,841 in the last 90 days. Company insiders own 11.28% of the company’s stock.

Institutional Trading of Zoom Video Communications

Institutional investors have recently modified their holdings of the stock. Global Wealth Management Investment Advisory Inc. boosted 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 period. 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 acquiring an additional 133 shares during the period. Covestor Ltd grew 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 during the last quarter. Evoke Wealth LLC increased its holdings in shares of Zoom Video Communications by 3.5% in the 4th quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock valued at $364,000 after acquiring an additional 172 shares during the period. Finally, MML Investors Services LLC raised its position in Zoom Video Communications by 1.8% in the 1st quarter. MML Investors Services LLC now owns 9,550 shares of the company’s stock valued at $705,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.