Zoom Video Communications (NASDAQ:ZM) Rating Increased to Buy at Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM) was upgraded by Rosenblatt Securities from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat reports. The brokerage presently has a $75.00 target price on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 26.16% from the company’s current price.

A number of other brokerages have also issued reports on ZM. 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. 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. Mizuho cut 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. JPMorgan Chase & Co. cut 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. Finally, Jefferies Financial Group initiated coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Stock Down 0.8 %

NASDAQ ZM opened at $59.45 on Thursday. Zoom Video Communications has a 52 week low of $58.87 and a 52 week high of $75.90. The firm has a market capitalization of $18.28 billion, a P/E ratio of 29.14 and a beta of -0.07. The company has a 50-day moving average price of $64.82 and a 200-day moving average price of $65.95.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. As a group, equities research analysts anticipate that Zoom Video Communications will post 2.15 EPS for the current year.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,734.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Aparna Bawa sold 816 shares of Zoom Video Communications stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,734.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Shane Crehan sold 1,931 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $135,170.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,256 shares of company stock valued at $4,550,057. 11.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Global Wealth Management Investment Advisory Inc. increased its position in shares of Zoom Video Communications by 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth approximately $25,000. Quadrant Capital Group LLC increased its position in shares of Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Neo Ivy Capital Management increased its position in shares of Zoom Video Communications by 56.8% during the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Zoom Video Communications by 76.7% during the first quarter. Covestor Ltd now owns 394 shares of the company’s stock worth $46,000 after purchasing an additional 171 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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.