Zoom Video Communications, Inc. (NASDAQ:ZM) Given Consensus Rating of “Hold” by Brokerages

Zoom Video Communications, Inc. (NASDAQ:ZM) has earned a consensus rating of “Hold” from the twenty-five research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $85.19.

A number of brokerages have weighed in on ZM. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. The Goldman Sachs Group boosted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd.

Zoom Video Communications Stock Down 3.1 %

Shares of NASDAQ ZM opened at $82.69 on Wednesday. The business’s 50 day moving average price is $75.22 and its two-hundred day moving average price is $66.33. The company has a market cap of $25.45 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 5.51 and a beta of -0.05. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 880 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the transaction, the chief operating officer now owns 2,809 shares of the company’s stock, valued at $191,264.81. The trade was a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ZM. Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 96.7% in 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 last quarter. AQR Capital Management LLC raised its position in Zoom Video Communications by 78.5% during the 2nd 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 last quarter. FMR LLC raised its position in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC raised its position in Zoom Video Communications by 60.9% during the 2nd 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 during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in Zoom Video Communications during the 3rd quarter worth $62,038,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Company Profile

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.