Zoom Video Communications, Inc. (NASDAQ:ZM) Receives Consensus Rating of “Hold” from Analysts

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) have been given an average rating of “Hold” by the nineteen analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $75.22.

Several analysts have recently issued reports on the stock. Evercore ISI lowered their price target on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, May 21st. Robert W. Baird decreased their target price on shares of Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Morgan Stanley lowered their target price on shares of 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. Citigroup increased their target price on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Piper Sandler lowered their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $60.40 on Thursday. Zoom Video Communications has a fifty-two week low of $55.63 and a fifty-two week high of $75.90. The stock has a market cap of $18.68 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 9.37 and a beta of -0.05. The firm’s 50-day simple moving average is $59.48 and its 200 day simple moving average is $62.86.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.23. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a net margin of 18.37% and a return on equity of 10.55%. As a group, analysts predict that Zoom Video Communications will post 2.43 EPS for the current fiscal year.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.82, for a total value of $149,604.40. Following the completion of the transaction, the chief executive officer now directly owns 90,300 shares of the company’s stock, valued at $5,582,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.82, for a total transaction of $149,604.40. Following the completion of the transaction, the chief executive officer now directly owns 90,300 shares of the company’s stock, valued at $5,582,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $58.64, for a total transaction of $293,610.48. The disclosure for this sale can be found here. Insiders sold a total of 118,629 shares of company stock valued at $6,935,309 in the last three months. Company insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently modified their holdings of ZM. Principal Securities Inc. bought a new position in shares of Zoom Video Communications in the fourth quarter worth approximately $25,000. Quadrant Capital Group LLC boosted its position in shares of Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Zoom Video Communications during the fourth quarter worth $32,000. Innealta Capital LLC bought a new position in shares of Zoom Video Communications during the second quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Zoom Video Communications during the second quarter worth $36,000. 66.54% of the stock is currently owned by institutional investors.

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.