Zoom Video Communications (NASDAQ:ZM) PT Raised to $70.00 at Stifel Nicolaus

Zoom Video Communications (NASDAQ:ZM) had its price objective hoisted by Stifel Nicolaus from $65.00 to $70.00 in a report issued on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other analysts have also recently commented on ZM. Piper Sandler decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Robert W. Baird decreased their target price on Zoom Video Communications from $84.00 to $77.00 and set an outperform rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley cut their price target on Zoom Video Communications from $72.00 to $68.00 and set an equal weight rating for the company in a report on Friday, June 14th. Needham & Company LLC reaffirmed a hold rating on shares of Zoom Video Communications in a report on Thursday, August 22nd. Finally, Benchmark raised their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a buy rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $75.05.

Zoom Video Communications Trading Down 0.2 %

NASDAQ:ZM opened at $70.68 on Thursday. The stock has a 50-day moving average price of $65.62 and a 200 day moving average price of $62.45. The stock has a market capitalization of $21.86 billion, a P/E ratio of 26.37, a P/E/G ratio of 6.11 and a beta of -0.04. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted $0.55 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, research analysts predict that Zoom Video Communications will post 2.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $58.64, for a total value of $293,610.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,074 shares of company stock valued at $9,595,146 over the last 90 days. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FIL Ltd grew its position in shares of Zoom Video Communications by 1.3% in the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after buying an additional 40,456 shares during the last quarter. Clarity Capital Partners LLC acquired a new stake in Zoom Video Communications in the fourth quarter valued at approximately $904,000. Scarborough Advisors LLC acquired a new position in shares of Zoom Video Communications during the fourth quarter worth $349,000. Virtu Financial LLC lifted its holdings in shares of Zoom Video Communications by 258.8% during the 4th quarter. Virtu Financial LLC now owns 24,637 shares of the company’s stock valued at $1,772,000 after purchasing an additional 17,771 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth $1,079,000. 66.54% of the stock is 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.