Rosenblatt Securities Reaffirms Buy Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reiterated by research analysts at Rosenblatt Securities in a report issued on Tuesday,Benzinga reports. They presently have a $95.00 price objective on the stock. Rosenblatt Securities’ price objective points to a potential upside of 24.64% from the stock’s current price.

ZM has been the subject of a number of other research reports. Benchmark raised their price target on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Piper Sandler upped their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $76.22 on Tuesday. The stock has a market capitalization of $23.36 billion and a P/E ratio of 25.78. The business has a 50 day simple moving average of $83.13 and a two-hundred day simple moving average of $76.55. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.19 billion. As a group, research analysts anticipate that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently modified their holdings of ZM. Adero Partners LLC raised its holdings in Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after purchasing an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after buying an additional 131 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the last quarter. Institutional investors and hedge funds 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.