Zoom Video Communications’ (ZM) “Outperform” Rating Reiterated at William Blair

William Blair restated their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report sent to investors on Thursday,RTT News reports.

A number of other brokerages have also recently issued reports on ZM. Barclays reduced their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Mizuho reduced their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Scotiabank lifted their price objective on shares of Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 16th. Citigroup reduced their price objective on shares of Zoom Video Communications from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, May 15th. Finally, Rosenblatt Securities lifted their price objective on shares of Zoom Video Communications from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Fifteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications has a consensus rating of “Moderate Buy” and a consensus target price of $87.61.

Zoom Video Communications Stock Down 3.4%

Shares of NASDAQ ZM opened at $79.28 on Thursday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a fifty day simple moving average of $76.00 and a 200 day simple moving average of $79.76. The company 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 quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Zoom Video Communications will post 2.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now owns 125,529 shares in the company, valued at $9,026,790.39. The trade was a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock valued at $12,132,994 over the last three months. 11.51% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Institutional investors have recently modified their holdings of the business. Wayfinding Financial LLC purchased a new position in shares of Zoom Video Communications during the 1st quarter valued at $25,000. SouthState Corp bought a new position in shares of Zoom Video Communications in the first quarter worth $25,000. Global X Japan Co. Ltd. increased its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Zoom Video Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 246 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. 66.54% of the stock is currently owned by hedge funds and other 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.