Rosenblatt Securities Raises Zoom Video Communications (NASDAQ:ZM) Price Target to $78.00

Zoom Video Communications (NASDAQ:ZM) had its price target increased by Rosenblatt Securities from $75.00 to $78.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently weighed in on ZM. JPMorgan Chase & Co. decreased their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a neutral rating for the company in a research report on Tuesday, February 27th. Robert W. Baird reduced their price target on Zoom Video Communications from $90.00 to $84.00 and set an outperform rating for the company in a report on Tuesday. Needham & Company LLC restated a hold rating on shares of Zoom Video Communications in a report on Tuesday. Sanford C. Bernstein reduced their target price on Zoom Video Communications from $82.00 to $78.00 and set a market perform rating for the company in a research note on Tuesday. Finally, Evercore ISI decreased their price target on shares of Zoom Video Communications from $72.00 to $70.00 and set an in-line rating for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of Hold and a consensus price target of $76.18.

Zoom Video Communications Stock Performance

ZM stock opened at $62.42 on Tuesday. The stock has a 50-day simple moving average of $63.12 and a 200-day simple moving average of $65.87. The firm has a market cap of $19.20 billion, a P/E ratio of 23.29 and a beta of -0.05. Zoom Video Communications has a 1 year low of $58.87 and a 1 year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.84%. On average, equities research analysts predict that Zoom Video Communications will post 2.15 EPS for the current year.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 816 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,734.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Zoom Video Communications news, COO Aparna Bawa sold 816 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,734.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $69.84, for a total value of $169,012.80. Following the sale, the chief executive officer now directly owns 85,160 shares in the company, valued at approximately $5,947,574.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,170 shares of company stock valued at $6,356,101. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after purchasing an additional 721,923 shares during the period. ARK Investment Management LLC boosted its stake in Zoom Video Communications by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after buying an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Zoom Video Communications by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock worth $475,469,000 after acquiring an additional 216,768 shares during the period. Nikko Asset Management Americas Inc. raised its position in Zoom Video Communications by 4.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock worth $434,785,000 after acquiring an additional 233,321 shares in the last quarter. Finally, FIL Ltd lifted its holdings in Zoom Video Communications by 1.3% in the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after acquiring an additional 40,456 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

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.