Evercore ISI Trims Zoom Video Communications (NASDAQ:ZM) Target Price to $75.00

Zoom Video Communications (NASDAQ:ZM – Get Rating) had its target price reduced by Evercore ISI from $85.00 to $75.00 in a report issued on Tuesday, The Fly reports.

Several other research firms have also recently weighed in on ZM. Benchmark reiterated a buy rating and set a $102.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 28th. Citigroup boosted their price target on shares of Zoom Video Communications from $67.00 to $68.00 and gave the company a sell rating in a report on Wednesday, March 1st. Roth Capital restated a neutral rating on shares of Zoom Video Communications in a report on Wednesday, February 8th. Rosenblatt Securities initiated coverage on shares of Zoom Video Communications in a report on Thursday, March 23rd. They set a neutral rating and a $75.00 price target on the stock. Finally, Piper Sandler lifted their price objective on shares of Zoom Video Communications from $75.00 to $78.00 and gave the company a neutral rating in a research note on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $86.50.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $65.12 on Tuesday. Zoom Video Communications has a 1 year low of $60.45 and a 1 year high of $124.05. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 141.57, a price-to-earnings-growth ratio of 3.54 and a beta of -0.22. The firm’s 50 day moving average price is $67.17 and its two-hundred day moving average price is $71.07.

Zoom Video Communications (NASDAQ:ZM – Get Rating) last posted its quarterly earnings data on Monday, May 22nd. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.17. Zoom Video Communications had a net margin of 0.12% and a return on equity of 2.38%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted $0.47 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Zoom Video Communications will post 0.74 EPS for the current fiscal year.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 14,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $70.93, for a total transaction of $993,020.00. Following the transaction, the chief operating officer now owns 76,777 shares in the company, valued at approximately $5,445,792.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Kelly Steckelberg sold 3,224 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $68.32, for a total transaction of $220,263.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Aparna Bawa sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $70.93, for a total transaction of $993,020.00. Following the transaction, the chief operating officer now owns 76,777 shares in the company, valued at $5,445,792.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,893 shares of company stock worth $7,116,654. 11.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently bought and sold shares of the business. Toroso Investments LLC raised its holdings in Zoom Video Communications by 11.7% in the first quarter. Toroso Investments LLC now owns 10,354 shares of the company’s stock worth $765,000 after purchasing an additional 1,088 shares during the period. Titleist Asset Management LLC acquired a new stake in Zoom Video Communications in the first quarter worth $2,120,000. Advisory Services Network LLC raised its holdings in Zoom Video Communications by 7.2% in the first quarter. Advisory Services Network LLC now owns 9,891 shares of the company’s stock worth $730,000 after purchasing an additional 665 shares during the period. AM Squared Ltd bought a new stake in shares of Zoom Video Communications during the first quarter worth $406,000. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Zoom Video Communications by 67.2% during the first quarter. Mercer Global Advisors Inc. ADV now owns 13,099 shares of the company’s stock worth $967,000 after acquiring an additional 5,263 shares in the last quarter. 52.96% of the stock is currently owned by institutional investors and hedge funds.

About Zoom Video Communications

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Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.