Zoom Video Communications Inc Class A (ZM) Receives a Hold from Rosenblatt Securities


Rosenblatt Securities analyst Ryan Koontz maintained a Hold rating on Zoom Video Communications Inc Class A (ZM) today and set a price target of $80. The company’s shares closed yesterday at $79.43.

Koontz wrote:

“We decrease our FY20 estimates to $570.0M/+$.05, above management guidance, and reduce our FY21 estimates to $800.0M/+$.11. Despite our enthusiasm and obvious strategic value for the company, we struggle with its current valuation of 30x F21 sales. With the stock up +10% after hours, we raise our price target to $80 and remain neutral.”

According to TipRanks.com, Koontz is a 4-star analyst with an average return of 14.3% and a 66.7% success rate. Koontz covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, CommScope Holding, and Juniper Networks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zoom Video Communications Inc Class A with a $80.40 average price target, a 1.2% upside from current levels. In a report issued on May 23, Oppenheimer also initiated coverage with a Hold rating on the stock.

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Based on Zoom Video Communications Inc Class A’s latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $5.7 million. In comparison, last year the company had a GAAP net loss of $1.34 million.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock.

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Zoom Video Communications, Inc. engages in the provision of video-first communications platform. It connects people through frictionless video, voice, chat and content sharing, and enable face-to-face video experiences for thousands of people in a single meeting across disparate devices and locations.

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