Brokerages Set Zoom Video Communications, Inc. (NASDAQ:ZM) Price Target at $75.44

Zoom Video Communications, Inc. (NASDAQ:ZM) has been given an average rating of “Hold” by the nineteen research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $75.44.

ZM has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target 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. Morgan Stanley decreased their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, May 21st. Citigroup upped 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, Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company.

Zoom Video Communications Trading Up 0.5 %

NASDAQ:ZM opened at $58.63 on Friday. Zoom Video Communications has a 1 year low of $55.63 and a 1 year high of $75.90. The firm has a 50 day moving average of $61.07 and a 200-day moving average of $64.51. The stock has a market capitalization of $18.13 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 8.95 and a beta of -0.05.

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

Insider Buying and Selling at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’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 transaction of $288,353.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Kelly Steckelberg sold 5,007 shares of the firm’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 transaction of $288,353.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Shane Crehan sold 5,099 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.97, for a total transaction of $321,084.03. The disclosure for this sale can be found here. Insiders have sold a total of 103,093 shares of company stock valued at $6,326,899 in the last three months. 10.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Mariner LLC grew its stake in shares of Zoom Video Communications by 90.3% during the third quarter. Mariner LLC now owns 18,134 shares of the company’s stock worth $1,268,000 after buying an additional 8,603 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Zoom Video Communications by 5.4% during the third quarter. Stifel Financial Corp now owns 26,080 shares of the company’s stock worth $1,824,000 after buying an additional 1,340 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Zoom Video Communications during the third quarter worth $294,000. California State Teachers Retirement System grew its stake in shares of Zoom Video Communications by 7.9% during the third quarter. California State Teachers Retirement System now owns 414,833 shares of the company’s stock worth $29,013,000 after buying an additional 30,294 shares during the last quarter. Finally, Gotham Asset Management LLC grew its stake in shares of Zoom Video Communications by 0.9% during the third quarter. Gotham Asset Management LLC now owns 47,454 shares of the company’s stock worth $3,319,000 after buying an additional 417 shares during the last quarter. 66.54% of the stock is 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.