Zoom Video Communications (NASDAQ:ZM) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research note released on Tuesday, Benzinga reports. The firm currently has a $95.00 price objective on the stock.

Several other research analysts have also recently commented on ZM. Sanford C. Bernstein lowered their target price on shares of Zoom Video Communications from $82.00 to $78.00 and set a market perform rating on the stock in a report on Tuesday. Rosenblatt Securities upped their target price on Zoom Video Communications from $75.00 to $78.00 and gave the company a buy rating in a research report on Tuesday. Wedbush reissued a neutral rating and set a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Evercore ISI dropped their price target on Zoom Video Communications from $72.00 to $70.00 and set an in-line rating for the company in a research note on Tuesday. Finally, Stifel Nicolaus reduced their price objective on shares of Zoom Video Communications from $70.00 to $65.00 and set a hold rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $76.18.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $63.01 on Tuesday. The company has a market cap of $19.38 billion, a P/E ratio of 23.51, a P/E/G ratio of 11.15 and a beta of -0.05. The firm’s fifty day moving average price is $63.06 and its two-hundred day moving average price is $65.88. Zoom Video Communications has a one year low of $58.87 and a one year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 10.84% and a net margin of 18.37%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts expect that Zoom Video Communications will post 2.15 earnings per share for the current year.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $69.84, for a total transaction of $169,012.80. Following the completion of the transaction, the chief executive officer now directly owns 85,160 shares of the company’s stock, valued at approximately $5,947,574.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total transaction of $317,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $69.84, for a total value of $169,012.80. Following the sale, the chief executive officer now directly owns 85,160 shares of the company’s stock, valued at approximately $5,947,574.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,170 shares of company stock worth $6,356,101. Company insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after purchasing an additional 721,923 shares during the period. ARK Investment Management LLC boosted its position in shares of Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after purchasing an additional 781,663 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Zoom Video Communications by 3.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company’s stock valued at $475,469,000 after buying an additional 216,768 shares during the period. Nikko Asset Management Americas Inc. increased its position in Zoom Video Communications by 4.0% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company’s stock valued at $434,785,000 after buying an additional 233,321 shares in the last quarter. Finally, FIL Ltd raised its stake in Zoom Video Communications by 1.3% during the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after buying an additional 40,456 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Company Profile

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.