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

Rosenblatt Securities reiterated their neutral rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report sent to investors on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $75.00 price objective on the stock.

Other analysts have also issued research reports about the stock. Mizuho dropped their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a buy rating for the company in a report on Tuesday, February 27th. Wedbush reaffirmed a neutral rating and set a $80.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a neutral rating for the company in a report on Tuesday, February 27th. BNP Paribas lowered shares of Zoom Video Communications from a neutral rating to an underperform rating and set a $60.00 price objective for the company. in a report on Thursday, January 18th. Finally, Wells Fargo & Company lowered shares of Zoom Video Communications from an equal weight rating to an underweight rating and set a $70.00 price target for the company. in a report on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $77.56.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $65.37 on Tuesday. The stock has a market cap of $20.11 billion, a PE ratio of 32.04 and a beta of -0.06. Zoom Video Communications has a twelve month low of $58.87 and a twelve month high of $75.90. The firm has a 50-day simple moving average of $66.19 and a 200 day simple moving average of $66.78.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. Research analysts forecast that Zoom Video Communications will post 2.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 4,480 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $68.34, for a total value of $306,163.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $66.46, for a total transaction of $332,765.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Shane Crehan sold 4,480 shares of Zoom Video Communications stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $68.34, for a total transaction of $306,163.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,075 shares of company stock valued at $4,534,500. 11.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. lifted its position in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Principal Securities Inc. bought a new stake in Zoom Video Communications in the 4th quarter valued at $25,000. Quadrant Capital Group LLC lifted its position in Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. Neo Ivy Capital Management lifted its position in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Finally, Covestor Ltd lifted its position in Zoom Video Communications by 76.7% in the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after acquiring an additional 171 shares in the last quarter. 66.54% of the stock is owned by 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.