Zoom Video Communications’ (ZM) Buy Rating Reiterated at Benchmark

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a note issued to investors on Tuesday,Benzinga reports. They presently have a $97.00 target price on the stock. Benchmark’s target price would suggest a potential upside of 31.13% from the company’s current price.

Several other research analysts have also commented on ZM. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Bank of America boosted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday. Finally, Piper Sandler upped their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Stock Down 8.8 %

NASDAQ:ZM traded down $7.13 on Tuesday, reaching $73.97. The company’s stock had a trading volume of 1,832,353 shares, compared to its average volume of 2,386,979. The firm has a market cap of $22.67 billion and a price-to-earnings ratio of 24.55. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a 50 day moving average price of $83.13 and a 200 day moving average price of $76.55.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.53). Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.19 billion. Equities research analysts expect that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Shane Crehan sold 1,551 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at $276,139.94. This trade represents a 32.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock worth $31,230,938 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global X Japan Co. Ltd. grew its position in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC grew its position in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Video Communications during the 4th quarter valued at $30,000. Finally, Colonial Trust Co SC purchased a new position in Zoom Video Communications in the fourth quarter valued at about $32,000. 66.54% of the stock is currently owned by institutional investors.

About Zoom Video Communications

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.