Zoom Stock – Zoom Video Communications (NASDAQ:ZM) Stock Rating Reaffirmed by DA Davidson
Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a research note issued to investors on Wednesday, Zacks.com reports. DA Davidson also issued estimates for Zoom Video Communications’ Q1 2022 earnings at $0.61 EPS, FY2022 earnings at $2.15 EPS and FY2023 earnings at $2.35 EPS.
Other equities research analysts have also issued reports about the stock. Wolfe Research started coverage on shares of Zoom Video Communications in a research note on Friday, April 23rd. They set an “outperform” rating and a $390.00 target price on the stock. Daiwa Capital Markets initiated coverage on shares of Zoom Video Communications in a report on Wednesday, March 31st. They issued a “sell” rating and a $250.00 price objective for the company. Zacks Investment Research downgraded 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 report on Monday, March 8th. Bank of America assumed coverage on shares of Zoom Video Communications in a report on Tuesday, April 20th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Zoom Video Communications in a report on Thursday, April 1st. They set a “hold” rating and a $360.00 price target for the company. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. Zoom Video Communications has a consensus rating of “Hold” and an average target price of $428.81.
Shares of NASDAQ ZM traded up $7.69 during mid-day trading on Wednesday, hitting $300.74. The stock had a trading volume of 23,539 shares, compared to its average volume of 4,735,345. The company has a 50 day moving average of $324.69 and a two-hundred day moving average of $385.28. Zoom Video Communications has a twelve month low of $149.16 and a twelve month high of $588.84. The firm has a market cap of $88.33 billion, a PE ratio of 383.64, a PEG ratio of 12.42 and a beta of -1.46.
Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Sunday, February 28th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.43. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The firm had revenue of $882.49 million for the quarter, compared to the consensus estimate of $810.97 million. During the same period in the prior year, the firm earned $0.15 EPS. The firm’s revenue was up 368.8% on a year-over-year basis. On average, equities research analysts expect that Zoom Video Communications will post 1.83 EPS for the current fiscal year.
In other news, CEO Eric S. Yuan sold 80,529 shares of the business’s stock in a transaction dated 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 $4,017,313.65. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Scheinman sold 167,466 shares of the business’s stock in a transaction dated Wednesday, March 3rd. The stock was 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 in the company, valued at $54,552,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 416,981 shares of company stock worth $144,655,835. 24.25% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Zoom Video Communications by 12.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,287 shares of the company’s stock worth $3,626,000 after acquiring an additional 1,268 shares during the period. Fifth Third Bancorp boosted its holdings in Zoom Video Communications by 6.9% during the first quarter. Fifth Third Bancorp now owns 1,316 shares of the company’s stock worth $423,000 after buying an additional 85 shares in the last quarter. Arizona State Retirement System boosted its holdings in Zoom Video Communications by 9.9% during the first quarter. Arizona State Retirement System now owns 54,883 shares of the company’s stock worth $17,633,000 after buying an additional 4,960 shares in the last quarter. Exencial Wealth Advisors LLC purchased a new stake in Zoom Video Communications during the first quarter worth about $319,000. Finally, Blueshift Asset Management LLC boosted its holdings in Zoom Video Communications by 380.3% during the first quarter. Blueshift Asset Management LLC now owns 8,246 shares of the company’s stock worth $2,649,000 after buying an additional 6,529 shares in the last quarter. 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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