Zoom Video Communications (NASDAQ:ZM – Get Rating) had its target price trimmed by Benchmark from $128.00 to $118.00 in a report published on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.
Other research analysts also recently issued reports about the company. Barclays dropped their price objective on Zoom Video Communications from $150.00 to $90.00 and set an equal weight rating on the stock in a research note on Thursday, May 19th. Piper Sandler dropped their price target on Zoom Video Communications from $115.00 to $91.00 and set a neutral rating on the stock in a research note on Tuesday. MKM Partners began coverage on Zoom Video Communications in a research note on Thursday, August 4th. They set a buy rating and a $135.00 price target on the stock. The Goldman Sachs Group dropped their price target on Zoom Video Communications from $163.00 to $142.00 and set a neutral rating on the stock in a research note on Tuesday, May 24th. Finally, Citigroup downgraded Zoom Video Communications from a neutral rating to a sell rating and set a $91.00 price target on the stock. in a research note on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $139.58.
Zoom Video Communications Trading Down 16.5 %
NASDAQ ZM opened at $81.32 on Tuesday. The business’s 50-day moving average price is $108.65 and its two-hundred day moving average price is $110.56. Zoom Video Communications has a 12 month low of $79.03 and a 12 month high of $357.93. The firm has a market capitalization of $24.26 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 4.07 and a beta of -0.61.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last announced its quarterly earnings data on Monday, August 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a return on equity of 16.56% and a net margin of 29.91%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. As a group, analysts forecast that Zoom Video Communications will post 1.75 earnings per share for the current fiscal year.
Insider Activity
In other news, COO Aparna Bawa sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $108.47, for a total transaction of $216,940.00. Following the sale, the chief operating officer now directly owns 82,260 shares in the company, valued at $8,922,742.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Aparna Bawa sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $108.47, for a total value of $216,940.00. Following the transaction, the chief operating officer now directly owns 82,260 shares in the company, valued at $8,922,742.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 2,319 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $109.79, for a total transaction of $254,603.01. Following the completion of the transaction, the insider now owns 10,863 shares in the company, valued at $1,192,648.77. The disclosure for this sale can be found here. Insiders have sold a total of 50,223 shares of company stock worth $5,380,981 over the last ninety days. Company insiders own 11.24% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new position in shares of Zoom Video Communications in the fourth quarter worth approximately $26,000. Tyler Stone Wealth Management purchased a new stake in Zoom Video Communications in the fourth quarter worth approximately $38,000. Covestor Ltd purchased a new stake in Zoom Video Communications in the fourth quarter worth approximately $41,000. Ronald Blue Trust Inc. purchased a new stake in Zoom Video Communications in the second quarter worth approximately $27,000. Finally, Cornerstone Advisory LLC purchased a new stake in Zoom Video Communications in the fourth quarter worth approximately $44,000. 55.94% of the stock is currently owned by institutional investors.
About Zoom Video Communications
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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.
Further Reading
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