Zoom Video Communications (NASDAQ:ZM) Raised to “Hold” at Scotiabank

Zoom Video Communications (NASDAQ:ZM) was upgraded by equities research analysts at Scotiabank to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Stifel Nicolaus boosted their price target on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley boosted their price objective on shares of Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their target price on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $76.26.

Zoom Video Communications Trading Up 1.4 %

ZM stock opened at $78.86 on Tuesday. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $87.15. The business’s 50 day simple moving average is $72.77 and its 200 day simple moving average is $65.21. The firm has a market capitalization of $24.27 billion, a PE ratio of 28.27, a PEG ratio of 6.64 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, sell-side analysts predict that Zoom Video Communications will post 2.77 EPS for the current fiscal year.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total value of $165,479.60. Following the completion of the transaction, the chief executive officer now directly owns 85,514 shares in the company, valued at approximately $5,847,447.32. This represents a 2.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total transaction of $938,000.00. Following the transaction, the director now owns 1,514 shares in the company, valued at approximately $113,610.56. This trade represents a 89.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 367,108 shares of company stock worth $26,796,191. Insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently made changes to their positions in ZM. Innealta Capital LLC bought a new position in Zoom Video Communications during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications during the 2nd quarter worth about $36,000. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications in the 3rd quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zoom Video Communications in the 2nd quarter worth about $41,000. Finally, Allworth Financial LP lifted its stake in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the period. 66.54% of the stock is currently owned by institutional investors.

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.