Zoom Video Communications (NASDAQ:ZM) Receives New Coverage from Analysts at Wedbush

Wedbush assumed coverage on shares of Zoom Video Communications (NASDAQ:ZM) in a research note released on Thursday, Marketbeat.com reports. The firm issued an outperform rating and a $85.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Thursday, October 10th. Benchmark raised their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $75.32.

Zoom Video Communications Trading Up 0.5 %

Zoom Video Communications stock opened at $70.52 on Thursday. The stock has a fifty day moving average price of $66.94 and a 200 day moving average price of $62.62. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $74.77. The firm has a market capitalization of $21.71 billion, a P/E ratio of 25.28, a PEG ratio of 6.05 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $0.55 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Zoom Video Communications will post 2.76 EPS for the current year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now owns 94,000 shares in the company, valued at approximately $6,285,780. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $58.64, for a total transaction of $293,610.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the sale, the insider now directly owns 94,000 shares of the company’s stock, valued at $6,285,780. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,762 shares of company stock valued at $10,584,251 in the last quarter. Company insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently bought and sold shares of ZM. AQR Capital Management LLC lifted its stake in Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. Acadian Asset Management LLC lifted its position in shares of Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Zoom Video Communications by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after buying an additional 264,217 shares during the period. Finally, Primecap Management Co. CA grew its position in shares of Zoom Video Communications by 20.0% during the 2nd quarter. Primecap Management Co. CA now owns 1,280,525 shares of the company’s stock valued at $75,794,000 after buying an additional 213,575 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.