Zacks Investment Research upgraded shares of Zoom Video Communications (NASDAQ:ZM) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. They currently have $72.00 price target on the stock.

According to Zacks, “Zoom Video Communications Inc. is a provider of video and web conferencing services. The Company unifies cloud video conferencing, online meetings, group messaging and a software-defined video conference room solution into one platform. Its solution offers video, audio and screen-sharing experience across Windows, Mac, Linux, Android, BlackBerry, Zoom Rooms and H.323/Session Initiation Protocol room systems, such as Polycom and Cisco Tandberg. Zoom Video Communications Inc. is based in San Jose CA. “

ZM has been the subject of several other research reports. Stifel Nicolaus cut their price objective on Zoom Video Communications from $90.00 to $75.00 and set a hold rating for the company in a report on Friday, December 6th. They noted that the move was a valuation call. Morgan Stanley set a $75.00 price objective on Zoom Video Communications and gave the company a hold rating in a report on Friday, August 30th. Citigroup cut their price objective on Zoom Video Communications from $90.00 to $75.00 and set a neutral rating for the company in a report on Friday, October 18th. Guggenheim initiated coverage on Zoom Video Communications in a report on Friday, November 22nd. They issued a buy rating and a $90.00 price objective for the company. Finally, Rosenblatt Securities restated a hold rating and issued a $70.00 price objective on shares of Zoom Video Communications in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $80.77.

Shares of ZM stock opened at $63.54 on Thursday. The company has a current ratio of 3.21, a quick ratio of 4.00 and a debt-to-equity ratio of 0.06. Zoom Video Communications has a 1 year low of $59.94 and a 1 year high of $107.34. The stock has a fifty day moving average of $68.81 and a two-hundred day moving average of $82.63.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. The business had revenue of $166.60 million for the quarter, compared to analyst estimates of $156.23 million. The company’s revenue was up 84.9% on a year-over-year basis. As a group, research analysts predict that Zoom Video Communications will post 0.02 earnings per share for the current year.

In related news, Director Kimberly Hammonds sold 37,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $65.77, for a total transaction of $2,466,375.00. Also, CAO Roy Benhorin sold 100,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $70.05, for a total value of $7,005,000.00. Insiders have sold 277,936 shares of company stock worth $18,970,203 over the last ninety days.

Hedge funds have recently modified their holdings of the business. US Bancorp DE acquired a new position in Zoom Video Communications in the 2nd quarter worth about $30,000. G&S Capital LLC acquired a new position in Zoom Video Communications in the 3rd quarter worth about $28,000. Captrust Financial Advisors acquired a new position in Zoom Video Communications in the 2nd quarter worth about $36,000. Great West Life Assurance Co. Can acquired a new position in Zoom Video Communications in the 3rd quarter worth about $33,000. Finally, HM Payson & Co. acquired a new position in Zoom Video Communications in the 2nd quarter worth about $53,000. 10.39% of the stock is currently owned by institutional investors.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first communications platform that delivers changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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