Zoom Video Communications (NASDAQ:ZM) Given Neutral Rating at Cantor Fitzgerald

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “neutral” rating reissued by stock analysts at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports. They presently have a $87.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 9.74% from the stock’s current price.

A number of other research firms have also recently weighed in on ZM. Scotiabank upped their price objective on shares of Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday, May 16th. Mizuho reduced their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Citigroup reduced 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 report on Thursday, May 15th. Finally, Barclays reduced their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Fifteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.61.

Zoom Video Communications Trading Down 3.4%

Shares of NASDAQ ZM opened at $79.28 on Thursday. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market cap of $24.20 billion, a P/E ratio of 26.43, a P/E/G ratio of 5.48 and a beta of 0.79. The stock has a fifty day moving average price of $76.00 and a 200 day moving average price of $79.76.

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

Insider Activity

In related news, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the sale, the director now owns 157,824 shares in the company, valued at $12,439,687.68. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock valued at $12,132,994 in the last 90 days. 11.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Several hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its stake in Zoom Video Communications by 82.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock valued at $65,000 after purchasing an additional 397 shares during the last quarter. Intech Investment Management LLC lifted its stake in Zoom Video Communications by 59.1% in the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock valued at $1,238,000 after purchasing an additional 6,235 shares during the last quarter. Bayforest Capital Ltd lifted its stake in Zoom Video Communications by 432.5% in the 1st quarter. Bayforest Capital Ltd now owns 7,934 shares of the company’s stock valued at $585,000 after purchasing an additional 6,444 shares during the last quarter. Woodline Partners LP acquired a new stake in Zoom Video Communications in the 1st quarter valued at about $7,209,000. Finally, Empowered Funds LLC lifted its stake in Zoom Video Communications by 9.7% in the 1st quarter. Empowered Funds LLC now owns 125,789 shares of the company’s stock valued at $9,279,000 after purchasing an additional 11,073 shares during the last quarter. 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.