Zoom Video Communications (NASDAQ:ZM) Stock Rating Upgraded by Scotiabank

Zoom Video Communications (NASDAQ:ZM) was upgraded by research analysts at Scotiabank to a “hold” rating in a report released on Tuesday,Zacks.com reports.

ZM has been the subject of a number of other reports. Bank of America decreased their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Morgan Stanley raised their price target on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus price target of $76.26.

Zoom Video Communications Stock Up 1.4 %

Shares of NASDAQ:ZM opened at $78.86 on Tuesday. The firm has a fifty day simple moving average of $72.77 and a two-hundred day simple moving average of $65.21. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $87.15. The stock has a market capitalization of $24.27 billion, a P/E ratio of 28.27, a PEG ratio of 6.64 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, analysts expect that Zoom Video Communications will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. The trade was a 23.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,550 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,463 shares of the company’s stock, valued at $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 over the last three months. Corporate insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after buying an additional 2,579,720 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after acquiring an additional 2,520,987 shares during the last quarter. FMR LLC increased its stake in shares of Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after acquiring an additional 2,395,396 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications during the third quarter valued at $62,038,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.