Zoom Video Communications (NASDAQ:ZM) Given Buy Rating at Wolfe Research

Wolfe Research restated their buy rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report sent to investors on Tuesday morning, Analyst Ratings Network reports. The firm currently has a $375.00 price objective on the stock.

ZM has been the subject of a number of other reports. Oppenheimer reissued a hold rating on shares of Zoom Video Communications in a research note on Friday, July 2nd. KeyCorp reaffirmed a buy rating and issued a $398.00 target price on shares of Zoom Video Communications in a research note on Tuesday. JMP Securities reaffirmed a market perform rating on shares of Zoom Video Communications in a research note on Wednesday, August 18th. Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $450.00 to $350.00 and set a hold rating for the company in a research note on Tuesday, August 31st. Finally, UBS Group lowered their target price on shares of Zoom Video Communications from $345.00 to $315.00 and set a neutral rating for the company in a research note on Tuesday, August 31st. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has a consensus rating of Hold and an average target price of $399.75.

Shares of NASDAQ:ZM opened at $281.44 on Tuesday. The company has a 50-day moving average price of $348.32 and a 200 day moving average price of $340.43. Zoom Video Communications has a 52 week low of $273.20 and a 52 week high of $588.84. The company has a market cap of $83.62 billion, a P/E ratio of 85.03, a PEG ratio of 5.49 and a beta of -1.53.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Sunday, August 29th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.20. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $990.27 million. During the same period last year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 54.0% on a year-over-year basis. As a group, analysts predict that Zoom Video Communications will post 3.3 earnings per share for the current fiscal year.

In related news, CAO Shane Crehan sold 80 shares of the stock in a transaction that occurred on Friday, June 18th. The shares were sold at an average price of $375.00, for a total transaction of $30,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 80,529 shares of the stock in a transaction that occurred on Thursday, June 17th. The shares were sold at an average price of $369.50, for a total transaction of $29,755,465.50. Following the sale, the chief executive officer now directly owns 4,080 shares of the company’s stock, valued at $1,507,560. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 280,540 shares of company stock valued at $103,423,668. Insiders own 12.27% of the company’s stock.

Several large investors have recently modified their holdings of ZM. Keybank National Association OH increased its stake in Zoom Video Communications by 2.2% in the 2nd quarter. Keybank National Association OH now owns 1,470 shares of the company’s stock valued at $569,000 after buying an additional 32 shares during the period. Reilly Financial Advisors LLC increased its stake in Zoom Video Communications by 55.4% in the 2nd quarter. Reilly Financial Advisors LLC now owns 101 shares of the company’s stock valued at $39,000 after buying an additional 36 shares during the period. J.W. Cole Advisors Inc. increased its stake in Zoom Video Communications by 2.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,680 shares of the company’s stock valued at $650,000 after buying an additional 36 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Zoom Video Communications by 2.1% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,812 shares of the company’s stock valued at $701,000 after buying an additional 38 shares during the period. Finally, JT Stratford LLC increased its stake in Zoom Video Communications by 3.6% in the 2nd quarter. JT Stratford LLC now owns 1,132 shares of the company’s stock valued at $438,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 46.87% of the company’s stock.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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