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

Rosenblatt Securities reissued their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report report published on Friday, Benzinga reports. The firm currently has a $78.00 price target on the stock.

Several other brokerages have also recently issued reports on ZM. Needham & Company LLC restated a hold rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Bank of America cut their price target on Zoom Video Communications from $78.00 to $75.00 and set a neutral rating for the company in a research note on Thursday, August 22nd. UBS Group upgraded shares of Zoom Video Communications to a hold rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an underweight rating in a research note on Thursday, August 22nd. Finally, Robert W. Baird lowered their price target 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, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $74.68.

Zoom Video Communications Trading Up 2.2 %

Shares of NASDAQ:ZM opened at $68.66 on Friday. Zoom Video Communications has a 12 month low of $55.06 and a 12 month high of $74.77. The company has a 50-day moving average price of $64.64 and a 200-day moving average price of $62.34. The company has a market cap of $21.23 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 5.83 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 EPS. As a group, research analysts forecast that Zoom Video Communications will post 2.74 EPS for the current fiscal year.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $67.79, for a total transaction of $603,398.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total value of $186,994.80. Following the completion of the transaction, the insider now owns 82,792 shares in the company, valued at $4,731,562.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,316 shares of company stock valued at $7,831,615. 10.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Zoom Video Communications

A number of institutional investors have recently modified their holdings of ZM. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications in the second quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications during the 2nd quarter worth approximately $41,000. Versant Capital Management Inc raised its stake in Zoom Video Communications by 1,257.7% in the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after purchasing an additional 893 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Zoom Video Communications by 69.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $102,000 after buying an additional 692 shares during the last quarter. 66.54% of the stock is currently 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.