Zoom Video Communications (NASDAQ:ZM) Given “Hold” Rating at Rosenblatt Securities

Rosenblatt Securities restated their hold rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report sent to investors on Friday morning, Stock Target Advisor reports. They currently have a $70.00 price target on the stock.

Other research analysts also recently issued research reports about the company. Stephens assumed coverage on Zoom Video Communications in a report on Friday. They set a buy rating and a $95.00 price objective on the stock. Credit Suisse Group lowered their price objective on Zoom Video Communications from $90.00 to $80.00 and set a neutral rating for the company in a research report on Friday. Bank of America dropped their price objective on Zoom Video Communications from $103.00 to $87.00 and set a buy rating for the company in a report on Friday. FBN Securities started coverage on shares of Zoom Video Communications in a research report on Tuesday, September 10th. They set a sector perform rating and a $85.00 price target for the company. Finally, ValuEngine cut shares of Zoom Video Communications from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $83.30.

Shares of ZM stock opened at $62.74 on Friday. Zoom Video Communications has a 1 year low of $59.94 and a 1 year high of $107.34. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $68.99 and its 200-day moving average is $83.30.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $166.60 million during the quarter, compared to analyst estimates of $156.23 million. Zoom Video Communications’s quarterly revenue was up 84.9% compared to the same quarter last year. Equities research analysts anticipate that Zoom Video Communications will post 0.07 earnings per share for the current fiscal year.

In other Zoom Video Communications news, Director Kimberly Hammonds sold 3,125 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $70.00, for a total value of $218,750.00. Following the sale, the director now owns 19,922 shares in the company, valued at approximately $1,394,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aparna Bawa sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $66.51, for a total value of $1,330,200.00. Insiders have sold a total of 244,890 shares of company stock worth $16,881,574 in the last quarter.

Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC acquired a new position in Zoom Video Communications during the third quarter valued at approximately $660,000. Squarepoint Ops LLC lifted its stake in Zoom Video Communications by 28.0% in the 3rd quarter. Squarepoint Ops LLC now owns 14,017 shares of the company’s stock valued at $1,068,000 after purchasing an additional 3,065 shares during the last quarter. Stifel Financial Corp bought a new position in Zoom Video Communications during the third quarter worth about $361,000. State Street Corp grew its holdings in Zoom Video Communications by 145.0% during the third quarter. State Street Corp now owns 38,470 shares of the company’s stock worth $2,931,000 after purchasing an additional 22,770 shares during the period. Finally, Banco Santander S.A. bought a new position in Zoom Video Communications during the third quarter worth about $201,000. 10.39% of the stock is owned by institutional investors.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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