Zoom Video Communications (NASDAQ:ZM) Receives New Coverage from Analysts at Wedbush

Equities researchers at Wedbush began coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The brokerage set an “outperform” rating and a $85.00 price target on the stock. Wedbush’s price objective points to a potential upside of 23.22% from the company’s current price.

A number of other research firms also recently issued reports on ZM. Piper Sandler decreased their price objective on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, October 4th. Robert W. Baird decreased their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Bank of America decreased their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, Benchmark increased their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.32.

Zoom Video Communications Trading Up 0.1 %

ZM stock traded up $0.05 during midday trading on Thursday, hitting $68.98. The company had a trading volume of 286,171 shares, compared to its average volume of 3,274,722. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $74.77. The stock’s 50 day moving average price is $66.38 and its 200 day moving average price is $62.54. The stock has a market cap of $21.23 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 5.85 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Analysts predict that Zoom Video Communications will post 2.74 earnings per share for the current year.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $58.64, for a total transaction of $293,610.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction on Monday, August 5th. The shares were sold at an average price of $56.12, for a total value of $135,810.40. Following the completion of the transaction, the chief executive officer now directly owns 90,354 shares of the company’s stock, valued at $5,070,666.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $58.64, for a total transaction of $293,610.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,762 shares of company stock valued at $10,584,251. 10.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zoom Video Communications

Several institutional investors have recently made changes to their positions in the company. Axiom Advisory LLC lifted its holdings in shares of Zoom Video Communications by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after acquiring an additional 183 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock valued at $1,370,000 after buying an additional 189 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Zoom Video Communications by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after buying an additional 223 shares in the last quarter. Excalibur Management Corp lifted its holdings in Zoom Video Communications by 5.6% during the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock valued at $257,000 after buying an additional 232 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Zoom Video Communications by 2.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock valued at $669,000 after buying an additional 273 shares in the last quarter. 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.