BTIG Research lowered shares of Zoom Video Communications (NASDAQ:ZM – Get Valuation) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, reports Marketbeat.com.
ZM has been the subject of a number of other reports. Barclays lowered its price target on Zoom Video Communications to $90.00 from $150.00, putting an equal weight rating on the company in a report on Thursday, May 19. UBS Group lowered its price target for shares of Zoom Video Communications from USD 130.00 to USD 100.00 and gave the stock a Na rating in a report on Wednesday, May. Goldman Sachs Group lowered its target price on shares of Zoom Video Communications from $163.00 to $142.00 and gave the company a neutral rating in a report Tuesday, May 24. Sanford C. Bernstein opened coverage on shares of Zoom Video Communications in a research note on Tuesday, July 19th. They set a market performance rating and a price target of $122.00 on the stock. Finally, Daiwa Capital Markets upgraded Zoom Video Communications from an underperform rating to an outperform rating and raised its target price on the company in a research note on Monday, March 30. One analyst rated the stock with a sell rating, Fourteen with a hold- rating and thirteen with a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $139.58.
Zoom Video Communications trading down 16.5%
NASDAQ ZM shares opened at $81.32 on Tuesday. The stock has a market cap of $24.26 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 4.07, and a beta of -0.61. Zoom Video Communications has a 12-month low of $79.03 and a 12-month high of $357.93. The company has a 50-day simple moving average of $108.65 and a 200-day simple moving average of $110.56.
Zoom Video Communications (NASDAQ:ZM – Get Rating) last issued its quarterly earnings results on Monday, August 22nd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. The company had revenue of $1.10 billion in the quarter, compared to analyst estimates of $1.12 billion. Zoom Video Communications had a net margin of 29.91% and a return on equity of 16.56%. The company’s revenue rose 7.6% year over year. In the same period last year, the company generated earnings per share of $0.98. Analysts are forecasting that Zoom Video Communications will post 1.75 EPS for the year to date.
Insider buying and selling
In related news, CFO Kelly Steckelberg sold 6,700 shares of the company’s stock in a transaction on Friday, May 27. The shares sold at an average price of $108.61 for a total value of $727,687.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. In related news, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications in a transaction that took place on Friday, May 27th. The shares sold at an average price of $108.61 for a total value of $727,687.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also on Tuesday, June 14, COO Aparna Bawa sold 2,000 shares of the company’s shares in a transaction. The stock sold at an average price of $106.60 for a total value of $213,200.00. Following the transaction, the Chief Operating Officer now owns 81,745 shares of the Company, valued at $8,714,017. The disclosure for this sale can be found here. Over the past three months, insiders sold 50,223 shares of the company’s stock valued at $5,380,981. Company insiders own 11.24% of the company’s shares.
Institutional trading in Zoom video communications
A number of institutional investors and hedge funds have recently bought and sold shares of ZM. HM Payson & Co. increased its stake in Zoom Video Communications by 9.4% in the fourth quarter. HM Payson & Co. now owns 804 shares of the company, valued at $148,000, after purchasing an additional 69 shares last quarter. ETF Managers Group LLC increased its stake in Zoom Video Communications by 4.2% during the fourth quarter. ETF Managers Group LLC now owns 2,123 shares of the company’s stock valued at $404,000 after purchasing an additional 86 shares during the period. PrairieView Partners LLC increased its position in Zoom Video Communications shares by 49.8% in the first quarter. PrairieView Partners LLC now owns 301 shares of the company’s stock valued at $35,000 after purchasing an additional 100 shares last quarter. Signature Wealth Management Partners LLC increased its stake in Zoom Video Communications by 4.5% in the second quarter. Signature Wealth Management Partners LLC now owns 2,426 shares of the company valued at $262,000 after purchasing an additional 105 shares during the period. Finally, Ieq Capital LLC increased its stake in Zoom Video Communications by 0.4% during the second quarter. Ieq Capital LLC now owns 27,254 shares of the company’s stock valued at $2,943,000 after purchasing an additional 109 shares last quarter. 55.94% of the shares are currently owned by hedge funds and other institutional investors.
Zoom Video Communications Corporate Profile
Zoom Video Communications, Inc provides a unified communications platform across the Americas, Asia Pacific, Europe, Middle East and Africa. The Company offers Zoom Meetings that offer HD video, voice, chat and content sharing across mobile devices, desktops, laptops, phones and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat allows users to share messages, images, audio, and content across desktops, laptops, tablets, and mobile devices.
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