Zoom Video Communications (NASDAQ:ZM) has been assigned a $75.00 price target by investment analysts at Rosenblatt Securities in a report issued on Friday, TipRanks reports. The firm currently has a “hold” rating on the stock. Rosenblatt Securities’ target price points to a potential upside of 13.50% from the stock’s current price.
Several other research analysts have also commented on the company. 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. Morgan Stanley set a $75.00 price objective on Zoom Video Communications and gave the stock a “hold” rating in a report on Friday, August 30th. Royal Bank of Canada cut their price objective on Zoom Video Communications to $95.00 and set a “sector perform” rating for the company in a report on Tuesday, October 8th. Zacks Investment Research raised Zoom Video Communications from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Saturday, September 14th. Finally, ValuEngine lowered Zoom Video Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $88.53.
Shares of NASDAQ ZM traded down $0.95 during midday trading on Friday, hitting $66.08. 4,778,252 shares of the company’s stock were exchanged, compared to its average volume of 2,593,466. Zoom Video Communications has a 12-month low of $59.94 and a 12-month high of $107.34. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $79.69.
Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The business had revenue of $145.80 million for the quarter, compared to analysts’ expectations of $130.55 million. Zoom Video Communications’s revenue for the quarter was up 95.7% compared to the same quarter last year. On average, analysts predict that Zoom Video Communications will post -0.03 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of ZM. SALESFORCE.COM Inc. bought a new stake in Zoom Video Communications in the second quarter valued at approximately $246,639,000. Vanguard Group Inc. bought a new stake in Zoom Video Communications in the second quarter valued at approximately $151,471,000. Coatue Management LLC bought a new stake in Zoom Video Communications in the second quarter valued at approximately $109,677,000. Whale Rock Capital Management LLC bought a new stake in Zoom Video Communications in the second quarter valued at approximately $108,258,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in Zoom Video Communications in the second quarter valued at approximately $97,188,000. 9.03% of the stock is owned by institutional investors and hedge funds.
Zoom Video Communications Company Profile
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.
Recommended Story: Hedge Funds – How They Work For Investors
Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.