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

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “neutral” rating restated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $87.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 14.15% from the company’s current price.

Several other research firms have also recently weighed in on ZM. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Benchmark upped their price target on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price target for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.05.

Zoom Video Communications Stock Down 7.6 %

Shares of ZM stock opened at $76.22 on Tuesday. 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 $23.36 billion and a PE ratio of 25.78. The business’s 50 day moving average is $83.13 and its two-hundred day moving average is $76.55.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, February 24th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.53). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.19 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. As a group, equities analysts expect that Zoom Video Communications will post 2.93 EPS for the current fiscal year.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the stock. Baker Avenue Asset Management LP boosted its holdings in Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after acquiring an additional 12,890 shares during the last quarter. HighTower Advisors LLC lifted its position in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares during the period. Merit Financial Group LLC acquired a new position in Zoom Video Communications during the 4th quarter valued at about $1,072,000. Robeco Institutional Asset Management B.V. grew its position in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after buying an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth approximately $62,038,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

About Zoom Video Communications

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.