Zoom Video Communications (NASDAQ:ZM) Given “Buy” Rating at Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research report issued on Friday,Benzinga reports. They presently have a $78.00 target price on the stock. Rosenblatt Securities’ target price would suggest a potential downside of 9.18% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ZM. Benchmark upped their price target on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, October 10th. UBS Group raised Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.61.

Zoom Video Communications Trading Up 5.8 %

NASDAQ ZM traded up $4.68 during trading on Friday, hitting $85.88. The company had a trading volume of 5,566,069 shares, compared to its average volume of 3,244,191. Zoom Video Communications has a one year low of $55.06 and a one year high of $87.15. The company has a market cap of $26.43 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 6.64 and a beta of -0.05. The company’s fifty day moving average is $73.06 and its 200-day moving average is $65.32.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, equities analysts anticipate that Zoom Video Communications will post 2.77 EPS for the current year.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 880 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This represents a 23.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the sale, the chief accounting officer now owns 1,463 shares in the company, valued at $97,830.81. This trade represents 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. 10.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ZM. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications in the third quarter worth about $37,000. Innealta Capital LLC purchased a new position in Zoom Video Communications in the 2nd quarter worth approximately $33,000. Allworth Financial LP boosted its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications in the second quarter valued at approximately $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications during the second quarter worth $41,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

About Zoom Video Communications

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.