Zoom Stock – Zoom Video Communications, Inc. (NASDAQ:ZM) Receives Consensus Rating of “Hold” from Analysts
Zoom Video Communications, Inc. (NASDAQ:ZM) has received an average recommendation of “Hold” from the twenty-nine brokerages that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $423.16.
A number of equities analysts have recently commented on ZM shares. Daiwa Capital Markets started coverage on shares of Zoom Video Communications in a report on Wednesday, March 31st. They issued a “sell” rating and a $250.00 price target on the stock. Rosenblatt Securities upped their price objective on shares of Zoom Video Communications from $350.00 to $400.00 and gave the company a “neutral” rating in a research note on Monday, March 8th. Zacks Investment Research cut shares of Zoom Video Communications from a “buy” rating to a “hold” rating and set a $354.00 price objective for the company. in a research note on Monday, March 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Zoom Video Communications in a research note on Thursday, April 1st. They issued a “hold” rating and a $360.00 price objective for the company. Finally, Wolfe Research started coverage on shares of Zoom Video Communications in a research note on Friday, April 23rd. They issued an “outperform” rating and a $390.00 price objective for the company.
In other Zoom Video Communications news, Director Daniel Scheinman sold 167,466 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $363.68, for a total transaction of $60,904,034.88. Following the transaction, the director now owns 150,000 shares of the company’s stock, valued at $54,552,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 80,529 shares of Zoom Video Communications stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $347.97, for a total transaction of $28,021,676.13. Following the transaction, the chief executive officer now directly owns 11,545 shares in the company, valued at approximately $4,017,313.65. The disclosure for this sale can be found here. Insiders have sold 416,981 shares of company stock worth $144,655,835 in the last ninety days. Insiders own 24.25% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ZM. BlackRock Inc. increased its position in Zoom Video Communications by 20.2% in the fourth quarter. BlackRock Inc. now owns 10,716,200 shares of the company’s stock worth $3,614,789,000 after purchasing an additional 1,804,237 shares during the last quarter. Baillie Gifford & Co. increased its position in Zoom Video Communications by 22.6% in the first quarter. Baillie Gifford & Co. now owns 8,100,660 shares of the company’s stock worth $2,602,661,000 after purchasing an additional 1,495,639 shares during the last quarter. price T Rowe Associates Inc. MD increased its position in Zoom Video Communications by 20.9% in the fourth quarter. price T Rowe Associates Inc. MD now owns 3,573,152 shares of the company’s stock worth $1,205,296,000 after purchasing an additional 616,991 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Zoom Video Communications by 76.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,859,881 shares of the company’s stock valued at $597,561,000 after acquiring an additional 807,267 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Zoom Video Communications by 16.4% during the fourth quarter. First Trust Advisors LP now owns 1,453,215 shares of the company’s stock valued at $490,198,000 after acquiring an additional 205,186 shares during the last quarter. Hedge funds and other institutional investors own 37.97% of the company’s stock.
Shares of ZM stock opened at $293.05 on Friday. The stock has a market capitalization of $86.07 billion, a P/E ratio of 375.71, a PEG ratio of 12.42 and a beta of -1.46. The firm’s 50 day moving average is $324.69 and its 200 day moving average is $385.28. Zoom Video Communications has a 12 month low of $149.16 and a 12 month high of $588.84.
Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Sunday, February 28th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.43. The company had revenue of $882.49 million for the quarter, compared to analysts’ expectations of $810.97 million. Zoom Video Communications had a net margin of 17.10% and a return on equity of 27.93%. Zoom Video Communications’s revenue was up 368.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS. On average, sell-side analysts anticipate that Zoom Video Communications will post 1.83 EPS for the current fiscal year.
Zoom Video Communications Company Profile
Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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