Zoom Video Communications (NASDAQ:ZM) Rating Lowered to Neutral at MKM Partners

Zoom Video Communications (NASDAQ:ZMGet Rating) was downgraded by investment analysts at MKM Partners from a “buy” rating to a “neutral” rating in a research report issued on Monday, MarketBeat reports. They currently have a $75.00 target price on the stock, down from their previous target price of $100.00. MKM Partners’ target price suggests a potential upside of 8.02% from the company’s previous close.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. lowered Zoom Video Communications from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $295.00 to $85.00 in a report on Friday, October 7th. Mizuho cut their price objective on Zoom Video Communications from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 22nd. Morgan Stanley lowered their target price on Zoom Video Communications from $85.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, December 14th. Robert W. Baird lowered their target price on Zoom Video Communications from $125.00 to $100.00 in a report on Friday, November 18th. Finally, Wedbush began coverage on Zoom Video Communications in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $80.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $103.76.

Zoom Video Communications Trading Down 2.2 %

Shares of NASDAQ:ZM opened at $69.43 on Monday. Zoom Video Communications has a twelve month low of $63.55 and a twelve month high of $156.05. The company’s 50 day moving average is $71.30 and its 200 day moving average is $82.28. The company has a market cap of $20.67 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.57 and a beta of -0.26.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings data on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Zoom Video Communications had a return on equity of 8.86% and a net margin of 16.07%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts predict that Zoom Video Communications will post 1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kelly Steckelberg sold 3,224 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $72.87, for a total value of $234,932.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Gregory Tomb sold 3,752 shares of Zoom Video Communications stock in a transaction on Monday, December 12th. The stock was sold at an average price of $71.85, for a total transaction of $269,581.20. Following the transaction, the president now directly owns 27,520 shares in the company, valued at approximately $1,977,312. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of Zoom Video Communications stock in a transaction on Friday, December 9th. The shares were sold at an average price of $72.87, for a total value of $234,932.88. The disclosure for this sale can be found here. Insiders have sold a total of 21,218 shares of company stock valued at $1,490,951 in the last quarter. Insiders own 11.24% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several large investors have recently modified their holdings of ZM. Vanguard Group Inc. boosted its position in Zoom Video Communications by 23.3% during the third quarter. Vanguard Group Inc. now owns 17,125,004 shares of the company’s stock valued at $1,260,230,000 after purchasing an additional 3,241,291 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Zoom Video Communications by 12.3% in the third quarter. Baillie Gifford & Co. now owns 8,466,914 shares of the company’s stock worth $623,080,000 after purchasing an additional 929,812 shares during the period. Renaissance Technologies LLC increased its stake in shares of Zoom Video Communications by 21.3% in the third quarter. Renaissance Technologies LLC now owns 7,800,404 shares of the company’s stock worth $574,032,000 after purchasing an additional 1,371,400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Zoom Video Communications by 20.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,341,298 shares of the company’s stock worth $466,656,000 after purchasing an additional 1,071,273 shares during the period. Finally, State Street Corp increased its stake in shares of Zoom Video Communications by 1.9% in the third quarter. State Street Corp now owns 5,040,839 shares of the company’s stock worth $370,955,000 after purchasing an additional 92,841 shares during the period. 52.96% of the stock is owned by institutional investors.

About Zoom Video Communications

(Get Rating)

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.

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Analyst Recommendations for Zoom Video Communications (NASDAQ:ZM)

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