Rosenblatt Securities Reiterates “Buy” Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a report issued on Thursday, Benzinga reports. They presently have a $78.00 price target on the stock. Rosenblatt Securities’ target price points to a potential upside of 11.21% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, May 21st. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday. Evercore ISI cut their price target on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, May 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, June 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.10.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $70.14 on Thursday. The firm has a market capitalization of $21.69 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 8.91 and a beta of -0.05. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $75.90. The stock has a fifty day moving average of $58.53 and a two-hundred day moving average of $61.86.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. Equities research analysts predict that Zoom Video Communications will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,013 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total value of $299,276.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $56.12, for a total transaction of $135,810.40. Following the transaction, the chief executive officer now owns 90,354 shares in the company, valued at $5,070,666.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 5,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The disclosure for this sale can be found here. Insiders sold 123,642 shares of company stock worth $7,187,144 over the last ninety days. 10.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZM. Principal Securities Inc. bought a new position in Zoom Video Communications in the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC grew its stake in shares of Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in Zoom Video Communications during the fourth quarter worth $32,000. Innealta Capital LLC acquired a new position in Zoom Video Communications during the 2nd quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications in the 2nd quarter valued at $36,000. 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.