3 days Ago By ABMN Staff
Zoom Video Communications, Inc. ( NASDAQ:ZM – Get Free Report ) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,510,000 shares, an increase of 27.
4% from the August 15th total of 8,250,000 shares. Based on an average daily volume of 3,540,000 shares, the days-to-cover ratio is presently 3.0 days.
Analysts Set New Price Targets Several research analysts have recently weighed in on ZM shares. Stifel Nicolaus decreased their price objective on shares of Zoom Video Communications from $70.00 to $65.
00 and set a “hold” rating for the company in a report on Tuesday, May 21st. Bank of America decreased their target price on shares of Zoom Video Communications from $78.00 to $75.
00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley dropped their price target on Zoom Video Communications from $72.00 to $68.
00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, May 21st.
Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.
68. Get Our Latest Analysis on ZM Zoom Video Communications Stock Performance Zoom Video Communications ( NASDAQ:ZM – Get Free Report ) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.
39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18.
Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%.
The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion.
During the same period in the previous year, the business earned $0.55 earnings per share. The business’s revenue was up 2.
1% on a year-over-year basis. On average, equities research analysts predict that Zoom Video Communications will post 2.69 earnings per share for the current year.
Insider Buying and Selling In other news, CFO Kelly Steckelberg sold 5,007 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $57.59, for a total value of $288,353.
13. The sale was disclosed in a filing with the SEC, which is accessible through this link . In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction on Wednesday, June 26th.
The stock was sold at an average price of $57.59, for a total value of $288,353.13.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink . Also, CAO Shane Crehan sold 1,550 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.
87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.
81. The disclosure for this sale can be found here . Insiders have sold a total of 120,014 shares of company stock worth $7,070,162 in the last quarter.
Corporate insiders own 10.78% of the company’s stock. Institutional Investors Weigh In On Zoom Video Communications Institutional investors have recently added to or reduced their stakes in the stock.
Principal Securities Inc. bought a new stake in shares of Zoom Video Communications in the fourth quarter worth about $25,000. Quadrant Capital Group LLC raised its holdings in shares of Zoom Video Communications by 269.
7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Zoom Video Communications during the 4th quarter valued at approximately $32,000.
Innealta Capital LLC purchased a new position in shares of Zoom Video Communications in the second quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications in the 2nd quarter worth $36,000.
66.54% of the stock is owned by hedge funds and other institutional investors. About Zoom Video Communications ( Get Free Report ) 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. See Also 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 .
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