Zoom Video Communications (NASDAQ:ZM) Sets New 12-Month High – Here’s What Happened

Zoom Video Communications, Inc. (NASDAQ:ZM)’s stock price reached a new 52-week high on Monday . The company traded as high as $81.92 and last traded at $81.92, with a volume of 7990 shares traded. The stock had previously closed at $81.46.

Analyst Upgrades and Downgrades

ZM has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Bank of America decreased their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. UBS Group upgraded Zoom Video Communications to a “hold” rating in a report on Friday, July 26th. Robert W. Baird reduced their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.32.

Zoom Video Communications Stock Performance

The stock has a market capitalization of $26.57 billion, a P/E ratio of 30.94, a PEG ratio of 7.38 and a beta of -0.05. The business has a 50-day moving average price of $70.79 and a 200 day moving average price of $64.28.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business earned $0.55 EPS. Zoom Video Communications’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total transaction of $299,276.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,013 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total transaction of $299,276.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the completion of the transaction, the chief executive officer now owns 85,514 shares in the company, valued at $5,847,447.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 372,121 shares of company stock worth $27,095,467. 10.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. grew its stake in shares of Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after acquiring an additional 2,579,720 shares during the period. AQR Capital Management LLC boosted its position in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the period. Acadian Asset Management LLC increased its stake in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Zoom Video Communications during the 3rd quarter valued at $62,038,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after buying an additional 492,520 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

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.