Zoom Video Communications (NASDAQ:ZM) Earns Overweight Rating from Analysts at Stephens

Stock analysts at Stephens initiated coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a note issued to investors on Thursday, The Fly reports. The firm set an “overweight” rating on the stock.

Other equities research analysts have also issued reports about the company. Oppenheimer set a $210.00 target price on Amgen and gave the stock a “buy” rating in a report on Friday, May 24th. Goldman Sachs Group lowered Zoom Video Communications from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $53.00 to $66.00 in a report on Sunday, June 30th. Stifel Nicolaus boosted their target price on Vail Resorts from $219.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, June 7th. Rosenblatt Securities restated a “buy” rating and issued a $80.00 target price (up from $60.00) on shares of Zoom Video Communications in a report on Friday, June 7th. Finally, Bank of America set a $80.00 target price on Canopy Growth and gave the stock a “buy” rating in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Zoom Video Communications has an average rating of “Hold” and a consensus price target of $82.97.

Shares of NASDAQ ZM traded down $1.32 during trading hours on Thursday, hitting $91.40. The stock had a trading volume of 1,751,951 shares, compared to its average volume of 3,001,223. The company’s 50-day moving average price is $89.52. Zoom Video Communications has a 52 week low of $59.94 and a 52 week high of $107.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 4.46.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Thursday, June 6th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $122.00 million during the quarter, compared to the consensus estimate of $111.66 million. Zoom Video Communications’s revenue for the quarter was up 103.1% on a year-over-year basis. On average, analysts predict that Zoom Video Communications will post -0.14 EPS for the current year.

In other news, CEO Eric S. Yuan sold 583,787 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $36.00, for a total transaction of $21,016,332.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl M. Eschenbach sold 828,437 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $28,332,545.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,405,918 shares of company stock valued at $83,480,215.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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The Fly

Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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