Tower Research Capital LLC TRC Invests $201,000 in Zoom Video Communications Inc (NASDAQ:ZM)

Tower Research Capital LLC TRC purchased a new position in Zoom Video Communications Inc (NASDAQ:ZM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,259 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds have also bought and sold shares of the company. SALESFORCE.COM Inc. bought a new stake in shares of Zoom Video Communications in the second quarter worth $246,639,000. BlackRock Inc. bought a new stake in shares of Zoom Video Communications in the second quarter worth $76,947,000. Baillie Gifford & Co. bought a new stake in shares of Zoom Video Communications in the second quarter worth $26,637,000. Jennison Associates LLC bought a new stake in shares of Zoom Video Communications in the second quarter worth $22,926,000. Finally, Wells Fargo & Company MN bought a new stake in shares of Zoom Video Communications in the second quarter worth $22,240,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Several research firms have issued reports on ZM. Royal Bank of Canada boosted their price target on Zoom Video Communications from $86.00 to $99.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Piper Jaffray Companies reissued an “overweight” rating and set a $100.00 price target (up previously from $90.00) on shares of Zoom Video Communications in a report on Friday, June 7th. Wells Fargo & Co boosted their price target on Zoom Video Communications from $75.00 to $95.00 and gave the company a “market perform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their price target on Zoom Video Communications from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Zacks Investment Research raised Zoom Video Communications from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Saturday, September 14th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $90.45.

Shares of NASDAQ ZM traded down $0.13 during mid-day trading on Monday, reaching $82.50. The company’s stock had a trading volume of 207,726 shares, compared to its average volume of 2,233,001. The company has a quick ratio of 4.46, a current ratio of 4.00 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $89.59. Zoom Video Communications Inc has a 52 week low of $59.94 and a 52 week high of $107.34.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The business had revenue of $145.80 million during the quarter, compared to the consensus estimate of $130.55 million. The firm’s revenue for the quarter was up 95.7% compared to the same quarter last year. Research analysts expect that Zoom Video Communications Inc will post -0.06 EPS for the current fiscal year.

Zoom Video Communications Company Profile

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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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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