Zoom Video Communications (NASDAQ:ZM) Upgraded by KeyCorp to “Strong Sell” Rating

KeyCorp upgraded shares of Zoom Video Communications (NASDAQ:ZM) to a strong sell rating in a report published on Thursday morning,Zacks.com reports.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Zoom Video Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Citigroup dropped their price target on shares of Zoom Video Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, May 15th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Finally, Bank of America increased their price target on shares of Zoom Video Communications from $79.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $87.00.

Zoom Video Communications Stock Performance

Shares of ZM opened at $80.35 on Thursday. The stock has a market capitalization of $24.53 billion, a PE ratio of 26.78, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The company’s 50-day simple moving average is $76.82 and its 200-day simple moving average is $79.65.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 earnings per share. On average, sell-side analysts predict that Zoom Video Communications will post 2.93 earnings per share for the current year.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the sale, the director now directly owns 169,452 shares of the company’s stock, valued at $13,193,532.72. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. Insiders have sold 91,459 shares of company stock worth $6,669,338 over the last ninety days. 11.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ZM. Wayfinding Financial LLC acquired a new position in shares of Zoom Video Communications during the first quarter valued at $25,000. SouthState Corp acquired a new position in shares of Zoom Video Communications during the first quarter valued at $25,000. Global X Japan Co. Ltd. increased its holdings in shares of 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 during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Zoom Video Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 246 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in shares of 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 during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

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.