Zoom Video Communications (NASDAQ:ZM) Earns Buy Rating from Analysts at HSBC

HSBC began coverage on shares of Zoom Video Communications (NASDAQ:ZMFree Report) in a research report report published on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $83.00 price target on the stock.

A number of other analysts also recently issued reports on the company. Robert W. Baird dropped their price target on Zoom Video Communications from $95.00 to $90.00 and set an outperform rating for the company in a research report on Tuesday, August 22nd. Mizuho restated a buy rating and issued a $100.00 target price on shares of Zoom Video Communications in a research report on Tuesday, August 22nd. Wells Fargo & Company dropped their target price on Zoom Video Communications from $80.00 to $75.00 and set an equal weight rating for the company in a research report on Tuesday, August 22nd. Needham & Company LLC restated a hold rating on shares of Zoom Video Communications in a research report on Tuesday, August 22nd. Finally, Citigroup boosted their target price on Zoom Video Communications from $65.00 to $66.00 and gave the stock a sell rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Zoom Video Communications presently has a consensus rating of Hold and an average target price of $82.09.

Get Our Latest Research Report on ZM

Zoom Video Communications Stock Performance

Shares of ZM opened at $70.63 on Friday. The business has a 50-day moving average of $69.80 and a 200 day moving average of $68.41. Zoom Video Communications has a fifty-two week low of $60.45 and a fifty-two week high of $89.67. The firm has a market cap of $21.26 billion, a P/E ratio of 160.53, a price-to-earnings-growth ratio of 1.20 and a beta of -0.20.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last posted its earnings results on Monday, August 21st. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.28. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Zoom Video Communications had a return on equity of 3.51% and a net margin of 3.17%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. As a group, research analysts predict that Zoom Video Communications will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 5,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the transaction, the director now owns 882 shares of the company’s stock, valued at $66,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jonathan Chadwick sold 5,000 shares of Zoom Video Communications stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the director now directly owns 882 shares of the company’s stock, valued at approximately $66,150. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 1,586 shares of Zoom Video Communications stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $70.69, for a total value of $112,114.34. Following the transaction, the insider now directly owns 58,306 shares in the company, valued at $4,121,651.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,132 shares of company stock valued at $5,962,272. 11.28% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in Zoom Video Communications by 94.3% in the 1st quarter. US Bancorp DE now owns 5,654 shares of the company’s stock worth $417,000 after acquiring an additional 2,744 shares during the last quarter. State of Michigan Retirement System increased its stake in Zoom Video Communications by 120.4% in the 1st quarter. State of Michigan Retirement System now owns 366,066 shares of the company’s stock worth $27,030,000 after acquiring an additional 200,000 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Zoom Video Communications by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,347,864 shares of the company’s stock worth $99,526,000 after acquiring an additional 9,413 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Zoom Video Communications in the 4th quarter worth approximately $760,000. Finally, Martingale Asset Management L P increased its stake in Zoom Video Communications by 6.1% in the 1st quarter. Martingale Asset Management L P now owns 9,992 shares of the company’s stock worth $738,000 after acquiring an additional 578 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

Zoom Video Communications Company Profile

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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.

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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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