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

Zoom Video Communications, Inc. (NASDAQ:ZM) has received a consensus recommendation of “Hold” from the twenty-four research firms that are currently covering the firm, Marketbeat reports. Fifteen analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $90.05.

ZM has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Bank of America increased their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Mizuho lifted their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Morgan Stanley boosted their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock worth $29,496,892 in the last quarter. 10.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the stock. Baker Avenue Asset Management LP raised its holdings in shares of Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after buying an additional 12,890 shares during the period. HighTower Advisors LLC lifted its position in shares of Zoom Video Communications by 449.4% during the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Zoom Video Communications during the fourth quarter valued at $1,072,000. National Pension Service grew its holdings in shares of Zoom Video Communications by 30.1% in the third quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after purchasing an additional 151,728 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Zoom Video Communications in the 3rd quarter worth about $62,038,000. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

ZM opened at $72.23 on Friday. The company’s 50-day simple moving average is $80.61 and its two-hundred day simple moving average is $77.61. The stock has a market capitalization of $22.14 billion, a P/E ratio of 24.08, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

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.