Zoom Video Communications (NASDAQ:ZM) Given New $78.00 Price Target at Sanford C. Bernstein

Zoom Video Communications (NASDAQ:ZM) had its price objective lowered by Sanford C. Bernstein from $82.00 to $78.00 in a research note released on Tuesday morning, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the stock.

ZM has been the topic of a number of other research reports. Rosenblatt Securities upgraded shares of Zoom Video Communications from a neutral rating to a buy rating and set a $75.00 target price on the stock in a research note on Thursday, April 18th. Robert W. Baird dropped their price objective on Zoom Video Communications from $90.00 to $84.00 and set an outperform rating for the company in a research note on Tuesday. Wedbush reissued a neutral rating and set a $80.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Mizuho dropped their price target on Zoom Video Communications from $100.00 to $90.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a neutral rating on the stock in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of Hold and an average target price of $76.18.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $63.01 on Tuesday. Zoom Video Communications has a one year low of $58.87 and a one year high of $75.90. The business has a fifty day moving average price of $63.06 and a 200-day moving average price of $65.88. The firm has a market capitalization of $19.38 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 11.15 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, equities research analysts expect that Zoom Video Communications will post 2.15 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total value of $317,243.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total transaction of $317,243.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,734.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,170 shares of company stock worth $6,356,101. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Zoom Video Communications by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after purchasing an additional 721,923 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Zoom Video Communications by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock valued at $788,463,000 after acquiring an additional 781,663 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings 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 acquiring an additional 216,768 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of 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 worth $434,785,000 after acquiring an additional 233,321 shares in the last quarter. Finally, FIL Ltd lifted its stake in shares of 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 purchasing an additional 40,456 shares during the last quarter. Hedge funds and other institutional investors 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.