Rosenblatt Securities Boosts Zoom Video Communications (NASDAQ:ZM) Price Target to $78.00

Zoom Video Communications (NASDAQ:ZM) had its price target raised by Rosenblatt Securities from $75.00 to $78.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $90.00 to $84.00 and set an outperform rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on Zoom Video Communications from $83.00 to $80.00 and set a neutral rating on the stock in a research report on Tuesday, February 27th. Mizuho reduced their price target on Zoom Video Communications from $100.00 to $90.00 and set a buy rating for the company in a report on Tuesday, February 27th. Evercore ISI dropped their price objective on Zoom Video Communications from $72.00 to $70.00 and set an in-line rating on the stock in a report on Tuesday. Finally, Needham & Company LLC reiterated a hold rating on shares of Zoom Video Communications in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications has an average rating of Hold and an average target price of $76.18.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $63.01 on Tuesday. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 11.15 and a beta of -0.05. Zoom Video Communications has a 1 year low of $58.87 and a 1 year high of $75.90. The firm’s 50 day moving average price is $63.06 and its two-hundred day moving average price is $65.88.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 10.84% and a net margin of 18.37%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities analysts predict that Zoom Video Communications will post 2.15 EPS for the current fiscal year.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $69.84, for a total value of $169,012.80. Following the transaction, the chief executive officer now directly owns 85,160 shares of the company’s stock, valued at $5,947,574.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $69.84, for a total value of $169,012.80. Following the completion of the sale, the chief executive officer now owns 85,160 shares in the company, valued at approximately $5,947,574.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,734.80. The disclosure for this sale can be found here. Insiders have sold 101,170 shares of company stock valued at $6,356,101 over the last 90 days. 10.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ZM. Cetera Advisors LLC lifted its position in shares of Zoom Video Communications by 52.1% in the first quarter. Cetera Advisors LLC now owns 6,307 shares of the company’s stock valued at $412,000 after buying an additional 2,160 shares during the last quarter. Swedbank AB acquired a new position in shares of Zoom Video Communications in the first quarter valued at about $2,100,000. Plato Investment Management Ltd increased its position in Zoom Video Communications by 549.3% during the first quarter. Plato Investment Management Ltd now owns 8,389 shares of the company’s stock worth $548,000 after acquiring an additional 7,097 shares during the period. iA Global Asset Management Inc. raised its stake in Zoom Video Communications by 27.3% in the 1st quarter. iA Global Asset Management Inc. now owns 4,060 shares of the company’s stock worth $265,000 after purchasing an additional 870 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Zoom Video Communications by 15.6% in the 1st quarter. Comerica Bank now owns 4,966 shares of the company’s stock valued at $325,000 after purchasing an additional 670 shares during the period. Institutional investors 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.