Robert W. Baird restated their in-line rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note released on Friday morning, The Fly reports. They currently have a $85.00 target price on the stock, down from their previous target price of $100.00. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently commented on ZM. Stephens reiterated an overweight rating and set a $115.00 price target on shares of Zoom Video Communications in a research report on Thursday, August 22nd. ValuEngine lowered shares of Zoom Video Communications from a buy rating to a hold rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on shares of Zoom Video Communications from $113.00 to $125.00 and gave the stock an overweight rating in a research report on Friday, September 6th. Guggenheim began coverage on shares of Zoom Video Communications in a research note on Friday, November 22nd. They issued a buy rating and a $90.00 price target for the company. Finally, Royal Bank of Canada restated a sector perform rating and set a $75.00 price target on shares of Zoom Video Communications in a research report on Friday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $83.30.
Shares of Zoom Video Communications stock traded down $6.93 during trading on Friday, hitting $62.74. 11,213,058 shares of the stock traded hands, compared to its average volume of 2,545,783. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.00 and a quick ratio of 4.00. The firm’s fifty day moving average is $68.99 and its 200-day moving average is $83.30. Zoom Video Communications has a 52 week low of $59.94 and a 52 week high of $107.34.
Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.06. The firm had revenue of $166.60 million for the quarter, compared to analysts’ expectations of $156.23 million. Zoom Video Communications’s revenue for the quarter was up 84.9% on a year-over-year basis. Sell-side analysts forecast that Zoom Video Communications will post -0.03 EPS for the current fiscal year.
In other Zoom Video Communications news, CAO Roy Benhorin sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $70.05, for a total value of $7,005,000.00. Also, Director Kimberly Hammonds sold 37,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $65.77, for a total value of $2,466,375.00. Over the last ninety days, insiders have sold 244,890 shares of company stock valued at $16,881,574.
Several institutional investors have recently made changes to their positions in the stock. SALESFORCE.COM Inc. bought a new position in shares of Zoom Video Communications in the 2nd quarter worth approximately $246,639,000. Vanguard Group Inc. purchased a new position in shares of Zoom Video Communications during the second quarter valued at approximately $151,471,000. Coatue Management LLC purchased a new position in shares of Zoom Video Communications during the second quarter valued at approximately $109,677,000. Whale Rock Capital Management LLC purchased a new position in shares of Zoom Video Communications during the second quarter valued at approximately $108,258,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Zoom Video Communications in the 2nd quarter worth approximately $97,188,000. Institutional investors own 10.39% of the company’s stock.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.
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