Zoom Video Communications (NASDAQ:ZM) Upgraded by KeyCorp to “Strong Sell” Rating

KeyCorp upgraded shares of Zoom Video Communications (NASDAQ:ZM) to a strong sell rating in a research report report published on Thursday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. 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 note on Wednesday, February 26th. William Blair reaffirmed an “outperform” rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised their price target on shares of Zoom Video Communications from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Finally, Piper Sandler raised their price target on shares of Zoom Video Communications from $77.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $87.00.

Zoom Video Communications Trading Down 1.2%

Shares of ZM opened at $80.35 on Thursday. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $24.53 billion, a P/E ratio of 26.78, a P/E/G ratio of 5.48 and a beta of 0.79. The company’s fifty day simple moving average is $76.82 and its 200-day simple moving average is $79.65.

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

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $80.67, for a total transaction of $199,658.25. Following the completion of the transaction, the director now directly owns 155,349 shares of the company’s stock, valued at approximately $12,532,003.83. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $143,583.02. This trade represents a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,459 shares of company stock worth $6,669,338 in the last three months. Corporate insiders own 11.51% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Zoom Video Communications by 2.6% in the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the period. FMR LLC grew its holdings in shares of Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after purchasing an additional 282,645 shares during the period. Norges Bank purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $751,908,000. AQR Capital Management LLC grew its holdings in shares of Zoom Video Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after purchasing an additional 373,509 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Zoom Video Communications by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company’s stock valued at $473,732,000 after purchasing an additional 36,210 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.