JMP Securities Reaffirms “Market Perform” Rating for Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “market perform” rating restated by research analysts at JMP Securities in a note issued to investors on Thursday,Benzinga reports.

ZM has been the topic of several other reports. Morgan Stanley upped their price objective on Zoom Video Communications from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Zoom Video Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research report on Thursday. Stifel Nicolaus reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Finally, Mizuho reduced their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Fifteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.61.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $79.28 on Thursday. The business’s fifty day moving average price is $76.00 and its 200 day moving average price is $79.76. Zoom Video Communications has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market capitalization of $24.20 billion, a PE ratio of 26.43, a P/E/G ratio of 5.48 and a beta of 0.79.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. Zoom Video Communications’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 earnings per share. Equities research analysts expect that Zoom Video Communications will post 2.93 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the transaction, the director now directly owns 157,824 shares in the company, valued at $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now owns 125,529 shares in the company, valued at $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,515 shares of company stock worth $12,132,994. Company insiders own 11.51% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SouthState Corp bought a new position in Zoom Video Communications during the first quarter valued at about $25,000. Global X Japan Co. Ltd. boosted its holdings in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Zoom Video Communications during the first quarter valued at approximately $25,000. Parkside Financial Bank & Trust boosted its holdings in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings 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. 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.