Zoom Stock – Zoom Video Communications (NASDAQ:ZM) price Target Cut to $400.00 by Analysts at Mizuho
Zoom Video Communications (NASDAQ:ZM) had its price target cut by equities researchers at Mizuho from $550.00 to $400.00 in a note issued to investors on Friday, Fintech Zoom reports. The firm presently has a “buy” rating on the stock. Mizuho’s price objective would suggest a potential upside of 33.23% from the stock’s current price.
ZM has been the topic of a number of other reports. 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 on the stock. Zacks Investment Research cut shares of Zoom Video Communications from a “buy” rating to a “hold” rating and set a $354.00 price objective on the stock. in a research note on Monday, March 8th. Wolfe Research initiated coverage on shares of Zoom Video Communications in a research report on Friday, April 23rd. They set an “outperform” rating and a $390.00 price target on the stock. Morgan Stanley lifted their price target on shares of Zoom Video Communications from $390.00 to $420.00 and gave the stock an “equal weight” rating in a research report on Monday, March 8th. Finally, DA Davidson reissued a “buy” rating on shares of Zoom Video Communications in a research report on Wednesday, May 5th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $423.04.
Shares of NASDAQ ZM traded up $10.07 during mid-day trading on Friday, hitting $300.23. 26,610 shares of the stock were exchanged, compared to its average volume of 4,662,629. The company has a market cap of $88.18 billion, a P/E ratio of 378.21, a PEG ratio of 12.42 and a beta of -1.46. The stock’s fifty day simple moving average is $319.83 and its two-hundred day simple moving average is $377.19. Zoom Video Communications has a twelve month low of $149.16 and a twelve month high of $588.84.
Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Sunday, February 28th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.43. The business had revenue of $882.49 million during the quarter, compared to analyst estimates 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 for the quarter was up 368.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. Analysts forecast that Zoom Video Communications will post 1.83 EPS for the current year.
In related news, COO Aparna Bawa sold 2,593 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $325.28, for a total value of $843,451.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel Scheinman sold 167,466 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 150,000 shares in the company, valued at approximately $54,552,000. The disclosure for this sale can be found here. Insiders have sold a total of 447,006 shares of company stock worth $153,435,287 over the last 90 days. 24.25% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Gateway Investment Advisers LLC boosted its holdings in Zoom Video Communications by 181.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 6,978 shares of the company’s stock valued at $2,242,000 after purchasing an additional 4,502 shares during the period. Strs Ohio boosted its holdings in Zoom Video Communications by 86.8% in the 4th quarter. Strs Ohio now owns 84,428 shares of the company’s stock valued at $28,479,000 after purchasing an additional 39,225 shares during the period. Worldquant Millennium Advisors LLC boosted its holdings in Zoom Video Communications by 408.2% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 68,137 shares of the company’s stock valued at $22,984,000 after purchasing an additional 54,730 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in Zoom Video Communications by 42.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 115,235 shares of the company’s stock valued at $38,870,000 after purchasing an additional 34,153 shares during the period. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $1,056,000. Institutional investors and hedge funds own 37.97% of the company’s stock.
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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